 |
Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Global investors are recalibrating portfolio strategies as shifts in energy infrastructure investment, trade policy, and sovereign debt dynamics reshape market expectations.
Japan has emerged as the first major foreign investor to align closely with U.S. political and industrial priorities, committing approximately $36 billion to Republican-leaning states for projects spanning AI power infrastructure, crude oil export facilities, and critical minerals. A 9.2-gigawatt gas-fired power plant led by SoftBank-affiliated entities is drawing particular attention as a potential solution to power bottlenecks constraining the expansion of U.S. artificial intelligence infrastructure. The move has strengthened U.S.–Japan supply-chain ties and fueled investor interest in U.S. energy and AI infrastructure sectors, as well as Japanese power equipment manufacturers.
In contrast, South Korea’s position in the U.S. import market has weakened. The country’s share fell to 3.6%, the lowest level since records began in 1988, with its ranking slipping from seventh to ninth as Taiwan and Ireland overtook Korea. Analysts attribute the decline to the growing impact of U.S. tariffs, including 15% duties on automobiles and 50% tariffs on steel and machinery. While Korea’s U.S. trade deficit ranking has eased somewhat, concerns are mounting over export competitiveness, prompting global investors to reassess exposure to Korea’s export-oriented sectors and focus on companies benefiting from market diversification.
Fiscal sustainability has also emerged as a key risk factor. The Bank for International Settlements (BIS) has warned that when government debt exceeds 60% of GDP, central banks’ policy flexibility deteriorates sharply. High-debt economies such as Japan and France are increasingly viewed as facing structural constraints, while South Korea is projected by the IMF to cross the 60% threshold by 2028. Rising government bond yields have reinforced investor concerns about monetary policy effectiveness and long-term growth.
Meanwhile, sector-specific opportunities continue to attract attention. Korean medical aesthetics device makers are expanding rapidly in North America and Europe, supported by high operating margins, rising overseas sales exposure, and expectations of sustained growth in the global anti-aging market. Regulatory milestones in the United States and China are seen as potential catalysts for earnings acceleration in the second half of the year.
Together, these developments are prompting global investors to place greater emphasis on energy security, trade resilience, and fiscal discipline as core variables in asset allocation decisions.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
