"Samsung Electronics and SK Hynix made gains, but NAVER wiped them out"...NPS stock holdings gain 70 trillion won in three months

[Financial News] In the fourth quarter of last year, the sharp rise in the share prices of Samsung Electronics Co., Ltd. and SK Hynix drove up the valuation of the National Pension Service (NPS)’s listed stock holdings by nearly 70 trillion won in just three months. While NPS has been increasing its exposure to power utilities and other such stocks, it has significantly reduced its holdings of sluggish domestic demand plays.

According to FnGuide Inc. on the 11th, as of the 7th, the valuation of stocks in listed companies in which the National Pension Service (NPS) holds at least a 5% stake stood at 266.1386 trillion won. This represents an increase of 69.6944 trillion won (35.48%) compared with the end of the third quarter last year (September 30), when the figure was 196.4442 trillion won.
The main reason was the surge in share prices of large-cap semiconductor stocks. The sharp gains in Samsung Electronics Co., Ltd. (7.75% stake held by NPS) and SK Hynix (7.35%) significantly boosted the overall valuation.
The valuation of NPS’s holdings in Samsung Electronics Co., Ltd. and SK Hynix increased by 26.1882 trillion won and 21.0967 trillion won, respectively, from the previous quarter. The combined increase of 47.2849 trillion won accounted for 67.85% of the total rise in NPS’s stock valuation. From the end of the third quarter last year through the 7th, the share prices of Samsung Electronics Co., Ltd. and SK Hynix soared 68.06% and 113.53%, respectively. Baek Gil-hyun, an analyst at Eugene Investment & Securities Co., Ltd., forecast for Samsung Electronics Co., Ltd., “With robust demand for high-spec, high-capacity servers continuing, and additional demand expected from consumer IT such as mobile devices and PCs in the first half of this year and beyond, the price upcycle is likely to persist.”
Following the two semiconductor giants, the stocks with the third- to fifth-largest increases in valuation were SK Square Co., Ltd. (2.9595 trillion won), Hyundai Motor Company (2.0281 trillion won), and Samsung Bioepis Holdings (1.1618 trillion won).
Among these, Samsung Bioepis Holdings was spun off from Samsung Biologics through a demerger on November 24 last year and listed on the KOSPI market. As a holding company, Samsung Bioepis Holdings manages the equity stakes of its subsidiaries, including Samsung Bioepis and Epis Nex Lab, and engages in new investment businesses.

On the other hand, the stock with the largest decline in NPS’s valuation was Hanwha Aerospace, dubbed the “flagship defense stock,” in which NPS holds a 7.92% stake; its valuation fell by 395.9 billion won. In the fourth quarter, expectations of easing geopolitical tensions weighed on defense stocks, leading to weak performance.
They were followed by Samyang Foods Co., Ltd. (267.7 billion won), NAVER Corporation (234.2 billion won), and Krafton Inc. (25.9 billion won). NPS’s stake in these companies remained unchanged at 9.58%, 9.33%, and 7.18%, respectively.
Meanwhile, in the fourth quarter of last year, NPS newly disclosed that it held stakes of 5% or more in 17 companies, including Samsung Bioepis Holdings, POSCO Future M, Hanon Systems, and ST Pharm.
A total of 23 stocks, including HD Hyundai Mipo, JYP Ent. (JYP Entertainment Corporation), and Hanil Cement, dropped below the 5% threshold and were therefore no longer subject to disclosure.
gaa1003@fnnews.com An Ga-eul Reporter