◆Ajou Economic Key News
▷Park Jeong-rim Returns as Outside Director at Timefolio Asset Management
- Park Jeong-rim, the former CEO of KB Securities, has made a comeback to the industry as an outside director at Timefolio Asset Management after facing severe penalties from financial authorities due to the Lime Fund scandal. Former NH Investment & Securities CEO Jeong Young-chae also returned last year as a senior advisor at Meritz Securities. - The recent Supreme Court ruling that annulled the severe penalties has alleviated the legal risks for these former securities executives, allowing them to resume their management activities. - On June 15, Timefolio Asset Management appointed Park Jeong-rim as a new outside director during its regular executive reshuffle. - Previously, Park had returned to the board of SK Securities in March 2024 while legal proceedings were ongoing but resigned before completing her term. After serving as a management advisor at KB Securities since January, her appointment at Timefolio marks her official return to external activities. - Park's joining the board is seen as a result of the Supreme Court's final ruling in April.
◆Major Reports
▷U.S.-China Hegemony War: Expansion from 'AI Semiconductors' to 'Aerospace' [Shin Young Securities]
- In the first half of the year, the Chinese stock market has shown relative strength in the aerospace and 6G sectors since June. - Recently, there has been an increase in IPO applications from aerospace companies on China's STAR Market. This follows the Shanghai Stock Exchange's announcement in December to encourage IPOs of aerospace companies by easing listing conditions. Notable companies include LandSpace and CAS Space, which have successfully launched low-orbit satellites, along with semiconductor and humanoid robot leaders planning IPOs. - Companies like Changxin Memory Technologies (CXMT) and Yangtze Memory Technologies (YMTC), both major players in DRAM and NAND, as well as Unitree, a leader in humanoid robotics, are expected to go public after passing IPO reviews in the fourth quarter. - With no domestic ETFs related to Chinese aerospace, investors should pay attention to ETFs tracking the 'STAR Market 50' index, where future Chinese aerospace IPOs are expected to concentrate.
◆Major Announcements After Market Close (June 15)
▷Gamsung Corporation decides to retire over 640,000 shares of its own stock
▷Hanmi Semiconductor acquires $500 million worth of SpaceX shares
▷Dongyang ENP acquires $364 million worth of MotiveLink shares
▷Intops signs a trust contract for the acquisition of $13 million worth of its own shares
◆Fund Trends (as of June 12, excluding ETFs)
▷Domestic equity funds: +1.116 trillion won
▷Overseas equity funds: +3.7 billion won
◆Key Schedule for Today (June 16)
▷South Korea: Import and Export Price Index (May)
▷China: Industrial Production (May), Retail Sales (May), Fixed Asset Investment (May), Unemployment Rate (May)
▷Germany: ZEW Economic Sentiment Index (June)
▷United States: Import and Export Price Index (May)
* This article has been translated by AI.
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