Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

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Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Equity Bottom-Up

<ul>
<li>Samsung confirmed PRA sign-off for 1c HBM4, shipped samples to NVIDIA, went full redesign on base die, and is in talks with vendors like Hanmi for hybrid bonding gear.</li>
<li>From a trading POV: Samsung pivoting to Hanmi signals "speed over pride"—a clear tell they're serious about ramping HBM4 fast, even if it means breaking from vertical integration.</li>
<li>For the move to stick, yields and customer wins matter — but Hanmi’s stepping up, and this could give Samsung’s HBM4 story a real leg up if it plays out.</li>
</ul>


Samsung confirmed PRA sign-off for 1c HBM4, shipped samples to NVIDIA, went full redesign on base die, and is in talks with vendors like Hanmi for hybrid bonding gear.
From a trading POV: Samsung pivoting to Hanmi signals "speed over pride"—a clear tell they're serious about ramping HBM4 fast, even if it means breaking from vertical integration.
For the move to stick, yields and customer wins matter — but Hanmi’s stepping up, and this could give Samsung’s HBM4 story a real leg up if it plays out.


サムスンの決算説明会はサムスンとハンミHBM4の協議を示唆：両銘柄にとっての触媒が醸成される

Hanmi Semiconductor

サムスンの決算説明会はサムスンとハンミHBM4の協議を示唆：両銘柄にとっての触媒が醸成される