Samsung Active Asset Management announced on January 14 the listing of the KoAct Global AI Memory Semiconductor Active exchange-traded fund (ETF), which invests across the global memory semiconductor value chain.
The product is designed to capture growth benefits across the memory semiconductor industry driven by the spread of artificial intelligence (AI). Beyond leading Korean companies, it targets the entire global memory value chain spanning the United States, Japan, and Taiwan. The fund invests in integrated device manufacturers (IDMs) such as Samsung Electronics (005930.KS), SK hynix (000660.KS), and Micron, as well as NAND-based storage companies including SanDisk, Kioxia, and Western Digital.
The memory semiconductor market is assessed to have entered a structurally different growth phase compared to the past. While demand was previously concentrated on high bandwidth memory (HBM), overall memory demand is now increasing as the AI inference market expands.
According to global investment banks, supply-demand balances for DRAM and NAND are expected to reach -4.9% and -4.2% respectively this year, marking the largest supply shortage in the past 15 years. Limited supply coupled with rising demand is driving up average selling prices (ASP) and improving corporate earnings.
The materials, parts, and equipment sector is also drawing attention. Analysis suggests that memory capital expenditure is expected to expand from HBM-focused investments to general-purpose memory starting in 2026, reflecting potential earnings improvements for related equipment companies.
Memory bottlenecks resulting from advancing AI are also presented as an investment thesis. Processing limitations under existing architectures have intensified competition to secure next-generation memory technology.
"With the expansion of the AI inference market, not just HBM but the entire memory spectrum from DDR5 to NAND and HDD has simultaneously entered a supply shortage phase," said Kim Hee-deok, manager at Samsung Active Asset Management. "This will be an optimal investment vehicle that goes beyond simple memory IDM investments to selectively capture the essence of the global AI memory value chain, including materials, parts, equipment, and next-generation memory technologies that will shape the future."
