Korea Tech Daily — 2026-08-20
SK Hynix shares surged over 12% in Seoul following the announcement of a massive 40 trillion won stock buyback, driving the Kospi index to snap back in a sharp reversal. Meanwhile, South Korea's Financial Services Commission issued a request for proposals for a new ₩880 billion ultra-long-term tech fund, signaling continued government support for the sector.
Korea Tech Daily — 2026-08-20
Top Story
SK Hynix Announces 40 Trillion Won Buyback, Shares Soar 12%
Shares of SK Hynix surged over 12% in Seoul on Thursday after the memory chip giant announced a massive stock buyback plan worth 40 trillion won. The move sent shockwaves through the Korean market, with top traders at Mirae Asset Securities net-buying SK Hynix as it rallied nearly 13%, followed by Samsung Electronics. The Kospi staged a sharp reversal from the previous session, led by these two chipmakers rallying on hopes for increased shareholder returns.
Samsung · SK Hynix · LG
Kospi Snaps Back on Share Buyback Hopes
The Korean benchmark index reversed its previous session's decline as Samsung Electronics and SK Hynix rallied on expectations for shareholder returns, marking a significant turnaround in the local tech market.
LG, SKT, Upstage Advance in Sovereign AI Race
LG AI Research, SK Telecom, and Upstage have advanced to the next stage of South Korea's government-backed push to develop a homegrown artificial intelligence foundation model, intensifying the domestic competition in AI infrastructure.
Naver · Kakao · LINE
Naver Sits Out 'AI for Everyone' as Telcos, Kakao Compete
Naver considered participating in the "AI for Everyone" project through Naver Cloud but ultimately decided not to join, according to industry sources, as other telecom and tech giants move to popularize AI services.
Platform Divergence: Naver on Infrastructure, Kakao on Services
Naver is concentrating strategic investments on AI infrastructure through its "AI Factory" initiative in partnership with Nvidia and Brookfield, while Kakao is opting out of the large-scale infrastructure race to go all-in on popularizing AI services for consumers.
Startups & Investment
Tech Funding Nearly Triples in H1, Masking Uneven Recovery
Korea's tech funding nearly tripled year-on-year in the first half of 2026, driven by a handful of mega-rounds in artificial intelligence and semiconductors, although the overall recovery remains uneven across the broader startup ecosystem.
Record Venture Investment Hits $6.34 Billion
South Korea's venture investment reached a record 8.87 trillion won ($6.34 billion) in the first half of 2026, fueled by major funding for AI, semiconductors, and robotics startups, marking a new high for the six-month period.
Policy & Industry
Korea Launches ₩880 Billion Ultra-Long-Term Tech Fund
South Korea's Financial Services Commission issued a request for proposals on the 20th for asset managers to run an ₩880 billion (approximately $630.9 million) ultra-long-term tech fund with a 16-year lifespan, with seven asset managers to be selected in October.
What to Watch
- October Asset Manager Selection: The finalization of the seven asset managers to run the new ₩880 billion tech fund, which will dictate the flow of long-term capital into the Korean tech sector.
- Sovereign AI Model Progress: The next steps for LG AI Research, SK Telecom, and Upstage as they advance in the government-backed push to develop a homegrown AI foundation model.
- Retail Investor Sentiment: Continued monitoring of novice investors entering the AI stock frenzy, as recent reports indicate they are losing small fortunes amid high volatility.
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