Korea 2Q26 earnings preview by sector: Key bottom-up pre-results trading ideas

Research evidence excerpt

Korea 2Q26 earnings preview by sector: Key bottom-up pre-results trading ideas

J P M O R G A N Asia Pacific Equity Research

09 July 2026

Korea 2Q26 earnings preview by

sector

Key bottom-up pre-results trading ideas

Following the preliminary earnings beat from SEC and in-line results from LGES Korea Equity Strategy

ACthis week, our Korea coverage’s 2Q26 earnings season will commence in the week Stanley Yang

of 20 July (Table 4). Combining 2Q earnings beat/miss expectations and other (82-2) 758-5712

catalysts, we provide key bottom-up pre-results trading ideas. Top picks: SEC, stanley.yang@jpmorgan.com

SEMCO, KB, Shinhan, Samsung Life, Hanwha Aerospace, Hyundai Rotem, J.P.BranchMorgan Securities (Far East) Limited, Seoul

LIG D&A, Hanwha Ocean, Samsung Biologics, LS Electric and Krafton. Top AC Benjamin Kim

Avoids: Hanmi Semiconductor, KEPCO and LG H&H. We also provide 2Q (82-2) 758-5580

sector earnings outlooks across our coverage (Positive: Tech, Banks, Defense, benjamin.kim@jpmorgan.com

Energy/Chem, Insurers and Shipbuilders; Negative: Utilities). J.P. Morgan Securities (Far East) Limited, Seoul

Branch

• 12M fwd Street earnings revisions (Apr~Current). We've seen broadly Jay Kwon AC

positive EPS revisions across the sectors. Tech continues to lead the upgrade (82-2) 758-5725

cycle, followed by Energy, Industrials, Materials, Consumer Staples, jay.h.kwon@jpmorgan.com

J.P. Morgan Securities (Far East) Limited, Seoul

Financials, Healthcare. Utilities stood out for the sharpest downward EPS Branch

AC revisions. Cons. Discretionary, Comm. Services saw largely flat revisions. Jihyun Cho

• 2Q earnings outlook. We expect to see positive earnings momentum from (82-2)jihyun.cho@jpmorgan.com758-5480

Tech (memory pricing strength); Banks (robust fee income, NIM expansion, J.P.