Abstract: We analyzed the earnings revision of MSCI South Korea component stocks for March 2026, estimating the index's 2026E EPS at ₩220.0, up 5.6% month-on-month from ₩208.3, with 45 stocks revised up versus 22 revised down. The index level declined 21% during the month, while aggregate stock-level EPS revisions contributed a net ₩18.8 to index EPS. SK Hynix led positive impact on index EPS at +₩8.0 with EPS up 11.9%, followed by SKSQUARE (+₩2.9, EPS +32.1%) and Samsung EPIS (+₩1.1); Samsung Electronics had the largest negative impact at -₩4.2 on index EPS despite its own EPS rising 18.8%, driven by weighting effects. On the downside, Samsung SDI (-14.2%), POSCO FUTURE M (-13.9%), and Alteogen (-8.1%) saw the steepest individual EPS cuts.
S-Oil, SAMSUNG SDI CO.,LTD., SK hynix, SKSQUARE, Alteogen, HyundaiMtr
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