Semiconductor Day: Samsung Electronics and SK hynix Conference Calls; 58% Operating Margin 'Record High' | Kwon Soon-woo, 3PRO TV Coverage Team Lead

Summary

Kwon Soon-woo, 3PRO TV coverage team lead, reviews a semiconductor-heavy news day: SK hynix's record Q4 earnings and shareholder returns, its HBM leadership ahead of Samsung, and expectations for Samsung's conference call. The segment also covers the Fed rate hold, U.S.-Korea tariff and investment-law tensions, new Korean leveraged ETF rules, and potential crypto exchange ownership restrictions. The main market implication is a bullish memory/HBM cycle led by SK hynix, with Samsung offering diversified AI upside and short-term won strength possible. Other items are mostly policy or headline risks.

• SK hynix reported record Q4 revenue and operating profit with a 58% operating margin.
• HBM sales doubled YoY, and SK hynix remains ahead of Samsung in HBM/HBM4.
• Samsung's conference call was awaited for divisional details and AI, foundry, and smartphone upside.
• Memory market forecasts show HBM and DRAM growth around 20% and NAND high-teens in 2026.
• The Fed held rates steady, implying no near-term cuts.
• U.S. pressure on Korea over the investment law and tariff agreement remains a headline risk.
• Korea plans to allow 2x single-stock ETFs but not 3x.
• Korean crypto exchange ownership caps could force major shareholder stake sales.