Wealthy Korean Investors Cut Naver, Kakao and Add Samsung Electronics, SK Hynix

Wealthy South Korean investors cut their holdings of Naver Corp. and Kakao Corp. while increasing their exposure to Samsung Electronics Co. and SK Hynix Inc. The shift shows portfolios of investors with at least 1 billion won ($723,000) in entrusted assets were reoriented toward semiconductors this year as an artificial intelligence chip rally swept the local stock market.

Kiwoom Securities said August 25 that its analysis of clients with entrusted assets of at least 1 billion won and 3 billion won found SK Hynix had climbed to the second-most held stock among wealthy investors.

For clients with at least 1 billion won in entrusted assets, the top five holdings in July 2025 were Samsung Electronics, Naver, SK Hynix, Kakao and Doosan Enerbility. In July 2026, the ranking changed to Samsung Electronics, SK Hynix, Hyundai Motor Co., Doosan Enerbility and Naver.

Samsung Electronics kept the No. 1 spot. Naver dropped to fifth from second, while Kakao fell out of the top five. SK Hynix surpassed Naver to rise to No. 2, underscoring a shift in wealthy investors' money from internet and platform stocks to semiconductors and large-cap manufacturers.

The pattern was similar among clients with at least 3 billion won in entrusted assets. In July 2025, the biggest holdings were Samsung Electronics, Naver, Kakao, SK Hynix and Doosan Enerbility. In July 2026, the lineup changed to Samsung Electronics, SK Hynix, Hyundai Motor, Doosan Enerbility and Samsung Electro-Mechanics Co.

In accounts with more than 3 billion won in entrusted assets, Naver and Kakao also dropped out of the top tier, replaced by SK Hynix, Hyundai Motor and Samsung Electro-Mechanics. The change reflects expectations for a recovery in the semiconductor industry and stronger demand for AI.

Preferences varied by age group. Wealthy investors in their 20s and younger, along with those in their 30s, held more SK Hynix than any other stock. As recently as July 2025, SK Hynix was not among the top five holdings for wealthy investors in their 20s and younger, but it rose to No. 1 this year.

Among investors in their 40s and older, Samsung Electronics remained the top holding. Younger wealthy investors appeared to place more weight on SK Hynix's growth prospects, while middle-aged and older investors favored Samsung Electronics for its market leadership and stability.

Samsung Electronics preferred shares also stood out. Excluding investors in their 20s, the stock ranked fourth or fifth among holdings for most age groups from their 30s to those 60 and older. Interest in the preferred shares increased as Samsung Electronics' dividend appeal came into focus.

By contrast, Alteogen Inc., Lotte Chemical Corp., Kakao and POSCO Holdings Inc., which ranked near the top last year, fell out of the standings this year. Some growth stocks, along with secondary-battery and chemical shares, lost ground, while large-cap semiconductor, auto and electronic-parts names took their place.

"Recent investment behavior among wealthy investors shows a pronounced preference among people in their 20s and 30s for stocks with strong growth potential, while those in their 40s and older continue to favor names with market leadership and stability," a Kiwoom Securities official said.

Lee Song-ryeol, Hankyung.com reporter yisr0203@hankyung.com