 |
Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, South Korea – October 22, 2025 – South Korea’s National Pension Service (NPS), one of the world’s largest institutional investors, has significantly increased its holdings in semiconductor materials, components, and equipment (so-called “SoBuJang”) stocks during the third quarter, reflecting growing optimism over a recovery in the global semiconductor cycle.
According to public disclosures filed with the Financial Supervisory Service (FSS) and the NPS, the fund reported 122 listed companies in which it holds over 5% ownership, with 54 companies seeing a rise in NPS stake ratios compared to the previous quarter.
The biggest increase was in Daeduck Electronics Co., Ltd., where NPS raised its stake by 4.49 percentage points to 12.87%. Daeduck’s stock price has surged more than 30% since September, supported by NPS’s continued buying. The pension fund also expanded positions in other semiconductor suppliers, including Soulbrain (from 5.02% to 8.38%), S&S Tech (from 4.99% to 5.02%), TES (6.08% → 6.11%), ISC (4.95% → 5.15%), KC Tech (7.55% → 8.55%), and Eugene Technology (4.96% → 5.01%).
Analysts said the move signals confidence in the recovery of legacy semiconductor demand and its spillover effects on Korean component suppliers.
“With increased investment in advanced semiconductor manufacturing, SoBuJang companies are expected to see stronger earnings into year-end,” said Im So-jung, analyst at Eugene Investment & Securities.
The NPS also raised stakes in brokerage firms, anticipating higher trading activity amid a strong equity market. Holdings in Mirae Asset Securities rose from 6.15% to 7.15%, and in Daishin Securities from 5.00% to 6.05%.
Meanwhile, the fund trimmed exposure to domestically driven sectors, reducing holdings in Hyundai Engineering & Construction (11.63% → 9.97%), Emart (12.19% → 9.99%), Nongshim (9.99% → 8.94%), CJ CheilJedang (10.83% → 9.81%), and Lotte Chilsung Beverage (7.65% → 6.65%), citing weaker consumption and property-market sentiment.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
