Korea Tech Daily — 2026-08-01
Samsung and SK Hynix soared over 20% on Friday as a sharp US tech rally reversed South Korea's brutal week-long selloff, capping the sharpest single-day market rebound on record. The government meanwhile approved a $13.9 billion sovereign wealth fund for AI and semiconductors, while launching support for Korean startups globally. South Korea's AIDC Alliance also opened with an 18.4GW data center capacity target.
Korea Tech Daily — 2026-08-01
Top Story
SK Hynix, Samsung Stage Historic Rebound as Wall Street Recovers
South Korea's stock market staged its sharpest reversal on record on Friday, with SK Hynix and Samsung Electronics each surging more than 20% in early trading, tracking a sharp rally in U.S. technology stocks overnight. The rebound marks a dramatic turnaround after days of steep losses driven by AI spending concerns. The Kospi index closed higher following the two heavyweights' recovery, signaling renewed investor confidence in South Korea's semiconductor sector. Market correlation data shows the Kospi and Nasdaq 100 moving in sync more than ever, with a 60-day correlation near 0.50—its highest since 2021.
Samsung · SK Hynix · LG
Samsung, SK Hynix Leverage ETF Popularity Amid Record Volatility
Retail investors' rush into leveraged exchange-traded funds tied to Samsung and SK Hynix has amplified market swings across South Korea, creating boom-and-bust conditions for traders betting on the memory-chip makers. The concentration of retail capital in these instruments has intensified the Kospi's sensitivity to semiconductor sentiment shifts.
South Korea's AIDC Alliance Launches with 18.4GW Target and Global Ambitions
South Korea's newly formed AIDC Alliance, a 12-company public-private coalition, opened on July 29 with a bold target of 18.4 gigawatts of AI data center capacity by 2035, backed by 200 trillion won in state financing. The alliance is also pushing for UAE export partnerships to expand South Korea's AI infrastructure footprint globally.
Naver · Kakao · LINE
Nvidia to Invest $1 Billion in Naver for AI Infrastructure Expansion
Nvidia plans to invest $1 billion in South Korean internet giant Naver as the companies expand their partnership to build large-scale artificial intelligence infrastructure. The investment underscores global tech leaders' continued commitment to South Korea's AI ecosystem despite recent market volatility.
Startups & Investment
Korea Post Commits ₩60 Billion to Three VC Firms for AI Ventures
Korea Post announced it will invest 60 billion won (approximately $41.9 million) from its Postal Insurance funds into three South Korean venture capital firms to accelerate AI venture fund formation and support early-stage tech startups.
South Korea Launches K-Founder Fund and Global Startup Support Program
South Korea unveiled its first government-backed global founder support program and K-Founder Fund, committing over 100 billion won to back Korean entrepreneurs abroad with mentorship, incubation services, and strategic capital. The initiative aims to energize Korea's startup ecosystem and attract overseas-founded Korean ventures.
Policy & Industry
Seoul Approves $13.9 Billion Strategic Investment Fund for AI, Semiconductors
South Korea's government announced plans to inject 20 trillion won ($13.9 billion) into its sovereign wealth fund (Korea Investment Corporation) for long-term strategic investments in AI, data centers, semiconductors, and other key industries, expanding the fund's mandate to include domestic assets for the first time following the technology stock rout. The new investment account will begin operations in 2027.
What to Watch
- Samsung and SK Hynix earnings momentum: Watch for sustained recovery in both chipmakers' share prices and whether Friday's rebound reflects genuine demand recovery or temporary relief rally
- Sovereign wealth fund deployment: Monitor how Korea's new 20 trillion won strategic fund allocates capital across AI infrastructure and semiconductor sectors from 2027 onward
- KOSPI-Nasdaq correlation stability: Track whether high correlation between Korean and US tech markets persists, potentially exposing Korean investors to continued volatility
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