Model Y Ranks #1 in Domestic Sales, Musk Gives a 'Thumbs Up'..."Chinese EVs Are Flooding In" | Ryu Jong-eun, 3PRO TV Reporter

Summary

The segment covers Samsung's strategic investment in US biotech Element Biosciences to build an AI-healthcare ecosystem, the surge of Chinese-made EVs in Korea hurting domestic automakers, and Korean department stores benefiting from a foreign tourist spending boom due to the weak won.

• Samsung Electronics becomes the largest shareholder of Element Biosciences, a DNA sequencing company, investing ~$175M to integrate bio, AI, and device hardware for personalized healthcare.
• The DNA sequencing market could grow from 125 trillion won in 2025 to 407 trillion won by 2034, and Element's multiomics technology offers high accuracy and low-cost analysis.
• Tesla Model Y became the top-selling car overall in Korea last month, driven by Chinese-made units, while Chinese EV brands like BYD also increase market share.
• Korean automakers saw sharp domestic sales drops (Hyundai -23%, Kia -9% in May) as consumers shift to Chinese-made EVs, and a planned metal workers strike poses additional risk.
• Department stores like Shinsegae, Hyundai Department Store, and Lotte Shopping are seeing surging sales to foreign tourists, with Shinsegae Main Branch foreign payments up 98% YoY in Q1.
• A Kiwoom Securities report suggests department stores could be re-rated as foreign-currency-earning businesses, and their stock prices have shown smooth uptrends.
• CPI came in line at 4.2% with core lower than expected, but market sentiment was dampened by Trump's threat to strike Iran's nuclear facilities and rising oil prices.