KOSPI surged 8% triggering a circuit breaker! Samsung rose 7.4% intraday as strike fears eased, and SK Hynix soared 11.2%

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The South Korean KOSPI index surged 8% today, hitting 7,787 points, with both KOSPI and KOSDAQ triggering the buy-side sidecar circuit breaker mechanism simultaneously. Samsung Electronics rose 7.4%, SK Hynix rose 11.2%, and Hyundai Motor rose 12.5%, with almost the entire market turning green. (Previous coverage: Court halts Samsung strike with daily fines: AI chips profit up 48 times, SK Hynix picks up talent) (Background: NVIDIA reveals cards on Wednesday: $78 billion revenue estimated to hit record, options market buys 10% volatility insurance in advance) The market hit the circuit breaker within minutes of opening today, as KOSPI 200 futures gains exceeded 5% for over a minute, automatically triggering a five-minute buy-side suspension mechanism, with KOSDAQ following almost simultaneously. Institutional investors net bought 2.4 trillion KRW in a single day, while foreign investors and retail investors were on the selling side. The electronics and electrical sector led the gains at 9.14%, followed by transportation equipment at 7.83% and machinery at 7.58%. Aside from food and beverages, there were almost no red (declining) stocks across the board. In terms of individual stocks, Hyundai Mobis soared 19.4%, SK Square +12.4%, Samsung Electro-Mechanics +11.9%, Kia +11.5%, and Samsung Life Insurance +11.3%, with large-cap stocks rallying collectively. The National Samsung Electronics Union (NSEU) was originally scheduled to launch an 18-day full-scale strike from May 21 to June 7, covering 45,000 members, which would have been the largest in the history of the semiconductor industry. However, about an hour before the strike began, both labor and management reached a tentative agreement with the personal intervention of Minister of Employment and Labor Kim Moon-soo. Core terms: A 6.2% average salary increase in 2026; a new special performance bonus for the Device Solutions (DS) division, calculated at 10.5% of operating profit with no cap. Based on the DS division's Q1 earnings, the per-capita annual bonus for the chip division could reach approximately 600 million KRW (about 13.9 million TWD). The Samsung union has announced the suspension of strike actions, with a full-member vote to be held from 2:00 PM on 5/22 to 10:00 AM on 5/27. The main reason is clearly NVIDIA's FY2027 Q1 earnings report released after the market closed on 5/20: revenue of $81.6 billion, up 85% year-over-year and 20% quarter-over-quarter, exceeding the Wall Street consensus of $79.2 billion; earnings per share of $1.87 beat expectations of $1.77; data center revenue of $75.2 billion hit another record; and dividends were increased by 25 times. The Q2 guidance was set at $91 billion, with no signs of a slowdown in AI capital expenditure. The effect was transmitted directly to the Asian market opening the next day. Samsung Electronics and SK Hynix combined account for over 42% of the KOSPI weight, and both are core suppliers of HBM memory for NVIDIA's AI servers. Why did the South Korean KOSPI surge 8% today? Three major catalysts exploded simultaneously: the 45,000-person Samsung strike reached a wage agreement one hour before it began, NVIDIA's Q1 revenue of $81.6 billion exceeded expectations and broke records, and oil prices fell while U.S. Treasury yields eased. Institutional investors net bought 2.4 trillion KRW in a single day. What are the contents of the Samsung Electronics union's wage agreement? A 6.2% average salary increase in 2026, and a new special performance bonus for the semiconductor division calculated at 10.5% of operating profit with no cap. Based on Q1 profits, the per-capita annual bonus for the chip division could reach approximately 600 million KRW (about 13.9 million TWD).

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Published:2026-05-21 05:08:01

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