KB Securities: Samsung shareholder returns could reach 600 trillion won

KB Securities estimates Samsung Electronics could generate 600 trillion won (about $440.53 billion) for shareholder returns over the next three years, more than four times the current 140 trillion won. The forecast is driven by a conventional DRAM shortage as HBM production expands, with conventional DRAM's wafer share falling from 73% in 2025 to 59% in 2027.

• Shareholder-return resources seen at 600 trillion won over three years vs 140 trillion now
• HBM to take over one-third of global DRAM wafer capacity in 2027
• HBM selling prices projected to more than double in 2027
• Samsung operating profit forecast at 368 trillion won in 2026 and 555 trillion in 2027