Samsung Electronics secured a large foundry (semiconductor contract manufacturing) contract worth over 20 trillion won, leading to a surge in its stock price.
Shares of Samsung Electronics were traded at 67,900 won on the KOSPI market at 9:01 a.m. on the 28th. The stock price rose by 3.03% (2,000 won) compared to the previous trading day.
The foundry contract announced by Samsung Electronics prior to the regular trading session appears to have stimulated investor sentiment. Samsung Electronics disclosed that it had signed a semiconductor contract manufacturing supply agreement worth 22.7648 trillion won with global corporations, with the contract period lasting until Dec. 31, 2033. Samsung Electronics did not disclose the specific contract counterpart or details due to confidentiality requirements.
The foundry division has been a sore spot for Samsung Electronics. It has been recording quarterly losses in the trillion won range, lagging behind the world's largest foundry company, Taiwan's TSMC. However, with TSMC's production capacity showing limitations, the potential for supply chain diversification through Samsung Electronics' foundry has been raised.