17 Korean company reports in a month put the exchange rate in their title. Three were on HD Hyundai Electric
Of 313 company reports Korean brokers published from 28 September to 23 October 2026, 17 named the exchange rate or a currency hedge in the title. Four cut the target; none raised it. Two of the companies report Q3 this week.
AI-assisted, human-reviewed sourcing. Figures are pulled programmatically from the official sources listed at the end of this article and checked by an editor before publication.
korean won exchange ratewon dollar earnings impacthd hyundai electric target pricekorean exporters exchange ratekorea q3 earnings 2026korean analysts
The quarter’s results are arriving with one word attached. In the month to 23 October, 17 company reports from Korean brokers put the exchange rate (환율) in their title. None of the 17 raised a target price.
We searched every title in our archive of 710 broker reports, the same list behind the target-change tape. On Friday 23 October the won closed the Seoul session at 1,324.6 per dollar, according to Korean wire reports.
What the 17 did to targets
| Target | Reports |
|---|---|
| Cut | 4 |
| Unchanged | 8 |
| No prior target listed | 5 |
| Raised | 0 |
| Total | 17 |
For comparison, across all 313 company reports in the same list, targets were raised 62 times and cut 69 times. The currency reports leaned one way.
The companies
| Date | Company | Broker | Prior → target (won) | Title, in short |
|---|---|---|---|---|
| 19 Oct | HD Hyundai Electric | SK | 900,000 → 650,000 | a temporary currency headwind |
| 12 Oct | HD Hyundai Electric | Hanwha | — → 1,000,000 | Q3 preview: the currency burden is a pity |
| 7 Oct | HD Hyundai Electric | Yuanta | 1,165,000 → 1,165,000 | profitability held despite the currency |
| 7 Oct | Samsung Heavy Industries | IBK | — → 37,000 | Q3 preview: when the currency hedge pays most |
| 7 Oct | Hana Financial Group | SK | — → 167,000 | rates up, exchange rate down — better for it |
| 14 Oct | Taihan Cable & Solution | SK | 61,000 → 33,000 | fundamentals improve despite the lower rate |
| 7 Oct | Taihan Cable & Solution | Yuanta | 48,500 → 48,500 | high-margin mix improves despite the currency |
| 14 Oct | LG Display | IBK | 17,000 → 13,000 | after chip inflation, now the exchange rate |
| 6 Oct | Samsung Biologics | Yuanta | 2,100,000 → 2,000,000 | steady despite the lower rate |
| 6 Oct | Samsung Biologics | SK | 2,000,000 → 2,000,000 | in line despite strike and currency |
| 21 Oct | Samyang Foods | Yuanta | 2,000,000 → 2,000,000 | growth hidden by the exchange rate |
| 23 Oct | Samyang Foods | LS | 1,800,000 → 1,800,000 | momentum to dispel currency worries |
| 22 Oct | LS Electric | SK | 310,000 → 310,000 | strong results despite the lower rate |
| 15 Oct | L&F | LS | — → 100,000 | currency and lithium push Q3 into a loss |
| 12 Oct | Soulbrain | Meritz | — → 500,000 | volume growth shows despite the headwind |
| 6 Oct | Hyundai Glovis | LS | 320,000 → 320,000 | Q3 preview: an annoying exchange rate |
| 2 Oct | DoubleU Games | Eugene | 78,000 → 78,000 | the lower rate stopped growth |
Five titles say the rate fell, meaning fewer won per dollar. For a company that sells in dollars and reports in won, that shrinks revenue on translation.
Who reports this week
Two of the twelve companies report third-quarter results this week, according to the calendar published by The Asia Business Daily: HD Hyundai Electric on 27 October and Samsung Heavy Industries on 29 October. Hana Financial is not on that calendar. HD Hyundai Electric is the only company with three currency titles, and its four reports in the month span 650,000 to 1,165,000 won (the full earnings-week count).
The Taihan Cable cut from 61,000 to 33,000 is as the list shows it. Whether the prior target predates a change in share count, the list does not say.
A title is not a forecast. This is a count of what analysts wrote, not a view on the won.
Related: K-pop agency targets cut, all still Buy · LS Electric, the most-covered stock of the month · October target cuts across the market. More from the same data: Which Korean brokers cut target prices and which held them? One month, ten houses, 281 targets · Samsung Electro-Mechanics drew more broker reports than SK hynix before Q3 results · Samsung Electronics and SK hynix drew only eight broker reports in a month.
Data & Verification Notes
- Data as of
- Sources
- Hankyung Consensus (markets.hankyung.com) — Broker report list collected 24 October 2026, 07:23 KST: 710 reports from 12 publishers dated 28 September to 23 October 2026, of which 313 are company reports. We searched titles for 환율 (exchange rate), 환헤지 (currency hedge), 원화 (won) and 달러 (dollar).
- Money Today, Financial News and The Asia Business Daily, 23 October 2026 — Won-dollar rate of 1,324.6 at 3:30 pm KST on 23 October 2026, up 0.4 won on the day.
- Cross-checks
- Titles naming the exchange rate: 21 of 710 reports; 17 company reports, 2 macro, 1 industry, 1 economics.
- The 17 company reports by target: cut 4, unchanged 8, no prior target listed 5, raised 0.
- HD Hyundai Electric (267260): 7 Oct Yuanta 1,165,000 unchanged 'profitability held despite the currency burden'; 12 Oct Hanwha 1,000,000 (no prior) 'the currency burden is a pity'; 19 Oct SK 900,000→650,000 'a temporary currency headwind'.
- Five of the 17 titles say the rate fell (fewer won per dollar): LS Electric, Taihan Cable, Samsung Biologics, DoubleU Games, Hana Financial.
- Excluded figures
- The won's move over the month: we did not measure it from an official series for this piece.
- Report bodies. We counted titles only; a report can discuss the currency without naming it in the headline.
- Brokers outside the 12 publishers in the list.
- This is not investment advice.
- Instruments
- 267260, 010140, 086790, 001440, 034220, 207940, 003230, 010120
The full dataset behind these figures — every listed company, every row — is available to license. SeoulMarkets data for licence →
Not investment advice. SMarkets publishes data journalism for general information only. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security — any investment you make is at your own risk and responsibility. Figures are derived from official public data sources and may be revised by the issuing agency. Verify independently before acting.
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