Korea Internet Pulse: June 2026: Rising interest in B2B AI infra strategy after Jensen Huang’s Korea visit

研报英文原文证据摘录

Korea Internet Pulse: June 2026: Rising interest in B2B AI infra strategy after Jensen Huang’s Korea visit

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

16 June 2026

Korea Internet Pulse: June 2026

Rising interest in B2B AI infra strategy after Jensen

Huang’s Korea visit

• Sector view. NVIDIA CEO Jensen Huang’s recent Korea visit for AI Internet and Telco

AC partnership triggered significant share price volatility, with rallies in some Stanley Yang

companies proving short-lived in the absence of a concrete roadmap (e.g., (82-2) 758-5712

SKT, Krafton, NC). For NC/Krafton, core IP monetization should remain the stanley.yang@jpmorgan.com

key share price driver rather than AI strategy (e.g., physical AI, robotics), with Benjamin Kim

Krafton (OW) expected to sustain PUBG IP performance in 2Q, supported by (82-2) 758-5580

multiple content updates at PUBG PC, in contrast to NC (N)’s softening AION benjamin.kim@jpmorgan.com

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

2 revenue. We remain positive on Coupang (OW), given reduced regulatory Branch

overhang after the PIPC fine and Wiseapp data showing GMV recovery in line

with mgmt’s guidance. SHIFT UP (N)’s new game trailer could support share

sentiment, despite a still distant launch timeline. HYBE (OW) is expected to

see strong 2Q earnings momentum, driven by BTS world ticket/MD sales.

• Share performance. Over the past one month, Coupang (+6% vs. KOSPI’s

+16%) was the top performer within our coverage, recovering an earlier loss

on the back of the share price surge after the PIPC fine confirmation. Both

Kakao/Kakao Pay underperformed (-8%/-18%) due to lack of progress in AI/

stablecoin business. SHIFT UP (+5%) was resilient thanks to the growing

anticipation for the next pipeline following the unveiling of Stellar Blade