Foreign investors show extraordinary appetite for digital-related stocks in Korea

Kang In-seon and Susan Lee 2022. 6. 21. 13:45
글자크기 설정 파란원을 좌우로 움직이시면 글자크기가 변경 됩니다.

이 글자크기로 변경됩니다.

(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.

[Graphics by Song Ji-yoon]
While mostly going short in Korean stocks, foreign investors have recently been going after cryptocurrency-related stocks in South Korea despite the downward spiral of digital tokens with bitcoin dipping below the key psychological level of $20,000 for the first time since December 2020 last Saturday.

According to the investment industry on Monday, Vidente ranked fifth in terms of net purchases by foreign investors for five consecutive days while Hanwha Investment & Securities and Woori Technology Investment ranked sixth and 12th, respectively.

Vidente is the largest shareholder of Korean major cryptocurrency exchange Bithumb Holdings. Hanwha Investment & Securities holds a 5.26 percent stake in Dunamu, the operator of cryptocurrency exchange Upbit, and Woori Technology Investment has a 7.4 percent stake.

According to the investment bank (IB) industry, Dunamu was valued at up to 20 trillion won ($15.5 billion) in January last year when Bitcoin’s dollar value was around $50,000.

Foreign investors started cherry-picking these stocks on June 10 when bitcoin and global stock markets plummeted on news that the U.S. consumer price index recorded 8.6 percent, coming above the market estimate.

According to, Bitcoin, which was worth $30,301 for 1 BTC on June 10, plunged to $21,041 on June 17.

Despite foreigners’ strong demand, Vidente shares fell by 17 percent, Hanwha Investment & Securities by 13 percent, and Woori Technology Investment by 13 percent during the same period due to the massive sell-offs by domestic individuals and institutional investors.

[ⓒ Maeil Business Newspaper &, All rights reserved]

Copyright © 매일경제 & 무단 전재, 재배포 및 AI학습 이용 금지

이 기사에 대해 어떻게 생각하시나요?