Despite 16% Rise in U.S. Markets, Korean Investors Lost 25 Trillion Won Last Year

◆아주경제 주요뉴스
▷Despite 16% Rise in U.S. Markets, Korean Investors Lost 25 Trillion Won Last Year
- Korean individual investors, known as 'seohakgaemi,' have not benefited from the recent surge in the U.S. stock market. Despite a double-digit increase in the U.S. market last year, domestic investors recorded losses exceeding 25 trillion won in their overseas stock investments.
- An analysis by Aju Economy, based on data submitted by eight major securities firms (Korea Investment, Mirae Asset, NH Investment, Samsung, KB, Kiwoom, Shinhan Investment, and Toss Securities) to the office of Kim Jae-seop, a member of the National Assembly, revealed that the total loss from overseas stock investments by individual investors last year amounted to 25.2059 trillion won.
- The losses from overseas stock investments were -1.4356 trillion won in 2021 and -14.0484 trillion won in 2022, but turned profitable in 2023 with gains of 2.78 trillion won and 16.9118 trillion won in 2024. However, last year saw a return to significant losses. In the first half of this year, profits reached 3.1517 trillion won, marking a return to profitability.
- The scale of investment has actually increased. Last year, the trading volume of individual overseas stocks at the eight major securities firms reached 938.6104 trillion won, a 73.5% increase compared to 2024 (540.9816 trillion won). In the first half of this year, the trading volume also rose to 617.3366 trillion won, reaching 65.8% of last year's total trading volume.
- Despite a strong annual performance in the U.S. stock market, the active trading of high-risk stocks, such as leveraged and inverse products, along with repeated sharp declines and rebounds throughout the year, has led to a disconnect between market trends and individual investors' actual investment performance.

◆주요 리포트
▷AI Investment Cycle Still in 'Mid-Cycle' [NH Investment & Securities]
- The proportion of AI-related hardware investment relative to U.S. GDP stands at 2.1%, which is closer to the level seen in 1997 than in 1998-1999 during the internet investment cycle. It is assessed to be closer to the mid-cycle than the late cycle.
- The inventory levels in manufacturing sectors of AI-leading countries such as the U.S., Taiwan, and South Korea are lower than in 2023. In South Korea, while semiconductor exports, shipments, and production have increased, inventory has decreased, indicating limited signs of over-investment.
- Despite high interest rates, the outlook for continued AI investment remains strong. Steady demand and data center construction are offsetting sluggish housing investment, and the current 10-year U.S. Treasury yield of 4.5-5.0% is seen as a reflection of economic conditions.
- The corporate debt ratio relative to U.S. GDP is still far from a risky zone. However, if hyper-scale investments come to an end, the high interest rates could pose a burden on the economy.

◆장 마감 후(28일) 주요공시
▷Namkwang Engineering & Construction, Daewoo Engineering & Construction: Selected as the winning bidder for the first section of the Yongin Advanced System Semiconductor Cluster National Industrial Complex construction project.
▷Samsung Electro-Mechanics: Decided to invest 4.27 trillion won to expand package substrates.
▷Seoul Food Industry, SH Energy Chemical: Warned of potential delisting due to failure to meet market capitalization requirements.
▷Samsung Pharmaceutical: Submitted a revised approval application for the Phase 2b/3 clinical trial plan for the progressive nuclear paralysis treatment drug GV 1001.
▷Lotte Holdings: Decided to issue 1 trillion won and 400 billion won in non-guaranteed bonds (debt-type hybrid capital securities) in the 7th and 8th rounds to secure funds for debt repayment.

◆펀드 동향(23일 기준, ETF 제외)
▷Domestic equity funds: -609 billion won
▷Overseas equity funds: -88 billion won

◆오늘(29일) 주요일정
▷Eurozone: Consumer Price Index (September), Consumer Confidence Index (September)
▷U.S.: JOLTS Job Openings (August), Consumer Confidence Index (September), Housing Prices (July)

* This article has been translated by AI.