Korea Tech Daily — 2026-05-10
Goldman Sachs projects Samsung Electronics' 2028 operating profit will exceed the combined earnings of Japan's top 100 listed companies, underscoring the structural revaluation of Korea's chip giants in the AI era. Meanwhile, Korea's startup ecosystem is pivoting sharply toward industrial AI as the government launches new funding vehicles to accelerate investment in semiconductors and AI infrastructure.
Korea Tech Daily — 2026-05-10
Top Story
Goldman Sachs has projected Samsung Electronics' 2028 operating profit at $344.5 billion, a figure that would exceed the combined profit of Japan's top 100 listed companies — a forecast that has sent shockwaves across Asian financial markets. The stunning projection reflects what analysts describe as a structural, AI-driven revaluation of Korea's chip industry rather than a cyclical upswing. Analysts note that the "Korea discount" that previously suppressed valuations of Samsung and SK Hynix is effectively being erased as global tech firms scramble to secure HBM and advanced memory supplies to power AI infrastructure. With SK Hynix simultaneously being flooded with unprecedented investment offers from major tech firms, Korea's semiconductor duopoly appears positioned to command premium valuations for years to come.
Samsung · SK Hynix · LG
Goldman Sachs Projects Samsung 2028 Profit Surpassing Japan's Top 100 Firms Goldman Sachs estimates Samsung Electronics' 2028 operating profit at $344.5 billion, exceeding the combined profit of Japan's top 100 listed companies, stunning Japanese investors and cementing the narrative of a lasting AI-driven profit surge for Korea's chip giants.
AI Rally at Samsung and SK Hynix Faces Sustainability Test — Harvard Economist A Harvard economist has weighed in on the sustainability of Korea's semiconductor-led stock market rally, noting that while AI demand is real and structural, execution risks remain as Samsung and SK Hynix race to expand HBM production capacity to meet unprecedented demand from Nvidia, Google, and Amazon. The Korea Times reports this as a 5-hour-old story as of May 10.
AI Boom Drives Structural Revaluation of Samsung and SK Hynix Analysts at Chosun Biz report that the AI boom is fueling a lasting structural revaluation of Korea's two dominant chip makers, with markets no longer applying the historical "Korea discount" to their valuations. SK Securities set target prices of 500,000 won for Samsung and 3 million won for SK Hynix as the KOSPI broke above 7,000.
Naver · Kakao · LINE
Korean Startup Weekly: Korea's AI Infrastructure Boom Goes Industrial Korea's startup ecosystem is rapidly pivoting to industrial AI, with startups scaling across manufacturing, logistics, healthcare, and deep-tech infrastructure, according to the latest Korean Startup Weekly News issue (#117). The report highlights a structural shift away from consumer-facing applications toward B2B and industrial deployment of AI, positioning Korea as a rising hub for enterprise AI solutions.
K-Startup Grand Challenge 2026 Expands Global Reach South Korea's K-Startup Grand Challenge (KSGC) 2026 is expanding its footprint for attracting global founders, with applications climbing and the government steadily lowering entry barriers for overseas entrepreneurs. However, Korea Tech Desk notes that the real test for foreign founders begins after entry, as scaling within Korea's market remains challenging despite improved infrastructure.
Korea, US, Japan Urged to Collaborate on Energy-Efficient AI Chips As the AI industry shifts from training to inference workloads, experts are calling on Korea, the United States, and Japan to collaborate on developing AI chips with high performance-per-watt and cost-effectiveness. The Asia Business Daily reports that inference-optimized chip design is becoming the next competitive frontier, requiring allied supply-chain coordination.
Startups & Investment
Korea Launches $412 Million State-Backed Fund for Retail AI and Chip Investment The South Korean government is set to launch a $412 million state-backed investment fund specifically targeting retail investors, channeling capital into next-generation industries including artificial intelligence and semiconductors. The Korea Times reports the fund is designed to democratize access to high-growth tech sectors that have previously been dominated by institutional capital.
South Korea Launches Public Growth Fund for High-Tech Investment Chosun Biz reports that South Korea has launched a tax-backed public growth fund designed to invite broad citizen participation in strategic sectors including AI and chips. The initiative signals the government's intent to build domestic retail support for its semiconductor and AI industrial policy.
Policy & Industry
Korea Launches $8.3 Million AI Cybersecurity Program, Selects 50 Firms Korea's top cybersecurity regulator, the Korea Internet & Security Agency (KISA), announced it will distribute 12 billion won ($8.3 million) through a new AI cybersecurity program, selecting 50 companies to receive support. The initiative, reported by The Korea Times on May 8, reflects the government's accelerating effort to build secure AI infrastructure as Korean enterprises rapidly adopt AI systems across critical sectors.
What to Watch
- Samsung earnings trajectory: With Goldman Sachs issuing its $344.5B 2028 profit forecast, watch for how rival analysts respond and whether Samsung's upcoming guidance revisions align with the bullish thesis — particularly regarding HBM ramp timelines.
- SK Hynix fab investment deals: Reuters and Seoul Economic Daily reporting indicate that Nvidia, Google, and Amazon are actively offering to co-fund SK Hynix production lines. Watch for formal announcements of any binding agreements, which could set precedents for Big Tech's direct chip supply-chain investment.
- Korea public growth fund launch: The government's $412 million retail investment fund targeting AI and chips is pending launch — watch for the official enrollment date and allocation breakdown, as it could significantly affect retail sentiment in Korea's semiconductor stocks.
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