[Good Morning Economy] National Pension Service's stock valuation of 4 trillion 'tuk'...Semiconductor Shares Are 'Wobbly'

The valuation of stocks held by the National Pension Service decreased by more than KRW 4.4 trillion in the fourth quarter of last year.

In particular, the decline in Samsung Electronics [005930]'s valuation alone reached 2.5 trillion won.

The National Pension Service's stake in Samsung Electronics in the fourth quarter was 7.68%, unchanged from the third quarter, but stock valuations also decreased as stock prices fell 8.78%.

It is the largest decline in stock valuations among the stocks held by the National Pension Service.

In contrast, the valuation of shares held by the National Pension Service in SK Hynix [000660] has increased.

In the end, the national pension fund's joy and sorrow are mixed with the stock prices of Korea's leading semiconductor companies.

The slowdown in the semiconductor industry has been a burden on both companies, but SK Hynix's stock price is interpreted as having succeeded in defending its performance as the increase in shipments of high-value-added memory (HBM) offset the decline in general-purpose memory prices due to the artificial intelligence (AI) craze.

However, in the case of Samsung Electronics, HBM's performance contribution is still low due to the delay in the HBM mass production schedule.

However, the recent comment by Jensen Huang, CEO of Nvidia, about the possibility of Samsung Electronics passing the HBM test is seen as a favorable factor.