The Core of Rebalancing: Focus on AI and Semiconductors

The most notable aspect of SK Group’s rebalancing strategy is its focus on the and industries. SK Group Chairman Chey Tae-won emphasized in his 2026 New Year’s address, “We must take on global challenges by riding the wave of the AI era.” The group is consolidating its core capabilities to ride this massive wave of change. For example, SK Group is holding a ‘New Icheon Forum’ by integrating its semi-annual strategy meeting and Icheon Forum, a knowledge management platform. The core theme of this forum is ‘AI acceleration.’ SK Telecom’s target stock price was also raised due to the increased value of its stake in AI company ‘Anthropic’ and the possibility of achieving 1 trillion won in data center sales. Its affiliate, SK Square, achieved record-high performance in the first quarter, driven by equity method gains from SK Hynix and improved profitability of its portfolio companies, establishing itself as the central axis of the group’s overall corporate value. Ultimately, AI and semiconductors are the two important pillars that will drive SK Group’s future growth.

Divestment of Non-Core Assets and Strengthening Financial Soundness

SK Group’s rebalancing focused on securing financial soundness through aggressive divestment of non-core assets. Since Choi Chang-won’s inauguration as Chairman of the SK SUPEX Council in December 2023, intensive asset efficiency efforts have been carried out across the group. A representative example is the sale of its stake in Vietnamese pharmaceutical company Imexpharm, which generated approximately double the investment return. Through the rebalancing pursued for three years starting in 2024, SK Group carried out 13 trillion won in asset efficiency, reducing the number of affiliates from 219 in 2023 to 151 in 2025. Thanks to these efforts, SK Inc.’s consolidated revenue in the first quarter of 2026 increased by 19% year-on-year, and operating profit surged by an astonishing 760%. Net borrowings decreased by approximately 21%, and the debt-to-equity ratio also fell from 172.8% to 135.7%. This means the group achieved both financial stability and improved profitability. The market evaluates these changes not as simple asset sales but as a successful reorganization of the growth portfolio.

Challenges for Securing Future Growth Engines

Of course, not all business segments are sailing smoothly. In particular, the energy sector, which SK Group presented as a future growth engine, especially the battery business, faced external variables such as a slowdown in electric vehicle demand. Battery affiliates such as SK On are focusing on cost reduction, and SK Nexilis and SK IE Technology have implemented voluntary resignations and unpaid leave. However, SK On is attempting to improve its constitution by shifting its growth重心 to the energy storage system (ESS) sector. The expansion of on-site power generation demand for AI data centers in the U.S. has led to ESS order opportunities, emerging as a key growth axis to alleviate SK On’s financial burden. Ultimately, strategic shifts to turn crises into opportunities are continuing. In the 2026 executive appointments, the group is accelerating change by appointing field-oriented leaders who can enhance problem-solving capabilities and customer trust.

SK Group’s preemptive rebalancing is more than just a business structure reorganization; it is a fundamental constitutional improvement to lead the AI era. The strategy of divesting non-core businesses and focusing on core areas such as AI and semiconductors is ultimately laying a solid foundation for the group’s sustainable growth. We look forward to seeing what new ‘big move’ SK Group will show in the future.

게시물 SK Group’s Rebalancing: A 3-Year Growth Formula Rewritten with AI and Semiconductors이 솜삽 블로그에 처음 등장했습니다.

In fact, the matters Chairman Lee Jae-yong personally oversees often involve a grand vision. From elevating national status beyond simple business to bold investments for future growth engines. Today, I’d like to delve into Chairman Lee Jae-yong’s main activities in 2026 and Samsung’s focused future strategies. What stories are hidden within?

2026 Milan Winter Olympics, The Scene of ‘Sports Diplomacy’

Did you hear the news that Chairman Lee Jae-yong departed for Milan, Italy, in February this year? It was for the 2026 Milan-Cortina Winter Olympics, and it’s now common knowledge that it wasn’t just simple sports spectating. This was his first visit to the Olympics in two years since the 2024 Paris Summer Olympics. There, he reportedly met with global political and business figures and key business partners one after another.

• During this trip, Chairman Lee Jae-yong expanded his global business reach by attending the Winter Olympics.
• Samsung has been an official IOC sponsor since the 1998 Nagano Winter Olympics, and it is the only Korean company among the top 15 sponsors.
• In particular, they opened ‘Samsung House’ in Palazzo Serbelloni, a historic building in Milan, continuing their Olympic partnership journey.

This began with the ‘brand management’ policy inherited from the late Chairman Lee Kun-hee, based on the judgment that sports sponsorship is suitable for enhancing brand value. Samsung’s sports diplomacy seems to contribute not only to corporate activities but also to elevating Korea’s status.

AI Autonomous Factory, A Blueprint for Future Production Innovation

Samsung’s announcement of its plan to transform its domestic and international production factories into ‘AI autonomous factories’ by 2030 was also huge news. This means actively introducing artificial intelligence into all manufacturing processes to apply ‘agentic AI’ that plans and executes autonomously.

• AI autonomous factories will introduce digital twin-based simulations across all processes, from material input to production and shipment.
• They plan to innovate the quality and productivity of global production bases by strengthening data-based analysis and pre-verification through quality, production, and logistics AI agents.
• They also plan to expand AI application to environmental safety, detecting risk factors in advance and preventing accidents, thereby enhancing safety levels in manufacturing sites.

This would mean humanoid manufacturing robots would be deployed in high-temperature or high-noise environments where human work is difficult. Samsung Electronics President Roh Tae-moon also mentioned strengthening M&A for robot business expansion at CES 2026, showing Samsung’s strong commitment to manufacturing innovation.

Lee Jae-yong’s Management Philosophy: Super-gap Technology and Talent

Lee Jae-yong’s management philosophy can be summarized as ‘technology and talent.’ He has always emphasized that securing manufacturing competitiveness through nurturing excellent technical talent determines the future survival of not only Samsung but also the Korean economy. Samsung Electronics’ operating profit in 2026 is expected to surpass the record-breaking year of 2018.

• Chairman Lee Jae-yong stated, ‘We must invest in technologies that don’t exist in the world. Our survival depends on future technologies,’ urging the continuation of the tradition of technology-centric and preemptive investment.
• He also announced plans to expand investment in new future businesses, emphasizing the maintenance of a semiconductor ‘super-gap’ and intensive nurturing of the bio and AI sectors.
• Indeed, with the return of the semiconductor super cycle amidst the AI boom in the second half of 2025, record profits are expected for the next few years.

Thanks to this management philosophy, Samsung is projected to reclaim the top spot in memory semiconductor operating profit in 2026 and usher in an era of annual operating profits exceeding 200 trillion won. Ultimately, steadfast investment in technology and talent seems to shine even in times of crisis.

Following Chairman Lee Jae-yong’s footsteps in 2026, we can clearly see the direction in which the giant ship that is Samsung is sailing. From sports diplomacy on the global stage to AI autonomous factories that will lead the future, and an unwavering management philosophy that prioritizes technology and talent. We truly look forward to the future Samsung will create.

게시물 Lee Jae-yong, His Footsteps in 2026 and Samsung’s 3 Future Strategies이 솜삽 블로그에 처음 등장했습니다.

The Power of the ‘EPS Rally’: Index Driven by Corporate Earnings

Honestly, I don’t think this KOSPI surge is merely a speculative rally. The key is corporate earnings. Securities firms are successively raising their 2026 KOSPI targets, and the background for this is ‘record-high upward revisions in earnings forecasts’. In the past, stock prices often rose first, leading to increased valuation burdens, didn’t they? But this time is different. Analysis suggests that the 12-month forward EPS (Earnings Per Share) forecast is rising along with stock prices, resetting the index’s upper limit itself.
This means it’s closer to an ‘EPS-driven rally’ rather than a ‘PER-overstretched rally’. The contribution of the semiconductor industry’s earnings is particularly significant. With earnings expectations for semiconductor leaders like Samsung Electronics and SK Hynix at record levels, it’s fair to say that their profits are pulling KOSPI up by the scruff of its neck. Korea Investment & Securities presented a 2026 KOSPI target of 5650, and DB Financial Investment even projected it could open up to 7044 points. Isn’t this absolutely crazy?

Semiconductors and AI: New Growth Engines for the Korean Economy

The Korean economy is expected to grow by 1.8-1.9% overall in 2026. This is a clear improvement from 2025, but what’s noteworthy here is the change in the growth method. In the past, exports led the way, but now, domestic demand recovery, including private consumption and construction investment, is expected to be the central axis of growth. However, that doesn’t mean exports are losing their power. In particular, semiconductor and AI-centric investments continue, changing the direction of growth for the Korean economy.
With the global AI cycle not yet over, combined with worldwide liquidity expansion and government policies to boost the stock market, there are even predictions that the Korean stock market could perform better than the US. The high valuation burden in the US also increases the likelihood of capital flowing into the Korean market, so ‘retail’ investors should also pay close attention to these trends. The top sectors commonly cited by major securities firms are semiconductors, AI infrastructure, and power equipment.

The Power of Retail Investors and Market Volatility

Another characteristic of the Korean stock market is the high proportion and significant influence of individual investors. The surge of Samsung Electronics stock to 90,000 won in 2021, and EcoPro’s rise to 1.5 million won last year, were ultimately thanks to massive buying by individual investors. A public opinion poll also showed that nearly half of the population expects the Korean stock index to rise in 2026, so the expectations of retail investors are clearly an important factor driving the market.
Of course, the market cannot be without volatility. External factors such as interest rate cuts, exchange rate fluctuations, and geopolitical risks always affect stock prices. It’s also important to remember that the Korean stock market tends to react particularly sensitively to dollar movements. In such a situation, rather than being swept away blindly, it seems like now is the time for prudent judgment, investing based on corporate fundamentals and the long-term growth potential of industries.

KOSPI200, A Key Market Indicator

Just as important as the KOSPI index is the KOSPI200 index. This is a representative index of the Korean stock market and is used as a trading target index in the derivatives market. It gathers the top 200 companies by industry in the Korean stock market, so its reliability is very high. The KOSPI200 constituent stocks are changed annually on the day after the second Friday of June, and are selected by comprehensively considering market representativeness, liquidity, and marketability.
When selecting constituent stocks, newly listed stocks less than one year old and administrative issues are excluded, and the market capitalization proportion by industry group is also considered, so not just any company gets in. Ultimately, being included in the KOSPI200 means being recognized by the market, so it’s good to refer to it when investing.
The 2026 KOSPI market looks like it will be a very interesting year. Expectations are high, especially given that it’s a bull market supported by corporate earnings. Of course, the market always holds unpredictable variables, but by understanding these major trends and responding wisely, couldn’t we seize good opportunities?

게시물 Beyond KOSPI 5000 to 7000? The Real Reason for the 2026 Bull Market!이 솜삽 블로그에 처음 등장했습니다.