Oh Woo-seok

Samsung Biologics (207940.KS) reported strong Q2 earnings with revenue of 1.3 trillion won and operating profit of 580 billion won, growing 20-30% YoY. Plants 1-4 are fully operational, Plant 5 is starting qualification, and the US Rockville plant acquired in April will begin contributing sales from Q3. The company maintained its 15-20% full-year growth guidance, with the upper end achievable as new capacity ramps up. A Kyobo Securities analyst set a target price of 1,900,000 won based on 2027 EBITDA of 3.4 trillion won and a 24.5x multiple. The stock had underperformed recently but buying interest flowed in as visibility on Q3 and Q4 earnings improved. The company also announced the acquisition of Polypeptide Group to diversify modalities, with ample cash reserves of 2.2 trillion won minimizing funding concerns. Overall, the company is executing well on capacity expansion and pipeline diversification, supporting a bullish fundamental outlook.

On the weekly chart, both Samsung Electronics and SK Hynix broke the Bollinger Band mid-band in the first week of July without a strong recovery the following week. Historically, this pattern leads to a move down to the lower Bollinger band, indicating further short-term downside.

On the weekly chart, both Samsung Electronics and SK Hynix broke the Bollinger Band mid-band in the first week of July without a strong recovery the following week. Historically, this pattern leads to a move down to the lower Bollinger band, indicating further short-term downside.

The KOSPI decline was driven by sentiment, not fundamental deterioration; index found support near 6,448 and reclaimed the 5-day moving average. Selling into this bounce should be avoided because the underlying issues are not fundamental, and the market may stabilize.

Korean entertainment stocks are trading at extreme undervaluation – HYBE at 22x, SM, JYP, YG at 12-15x forward P/E – after a 40-50% drop in a few months due to sector rotation away into semiconductors. The analyst community recommends overweight, citing strong Q2 earnings that meet or beat consensus, massive BTS world tour driving record HYBE profits, and fast-growing 5th-gen groups. A rebound in HYBE will lift the entire sector as semis lose momentum.

Korean semiconductor materials stocks have lagged equipment peers and are trading at lower valuations, while the underlying memory capex expansion (NAND upgrades, new fabs) will eventually drive materials demand higher. Stocks like Hansol Chemical, ENF Technology, Solbrain, TCK, and Leeno Industrial offer a catch-up re-rating opportunity, with global number-ones TCK and Leeno particularly well-positioned.

APR Corp continues to deliver strong earnings growth with excellent overseas performance in the US and Europe, while expanding into major retailers like Walmart and Costco. The stock has corrected from ~30x to 24x forward P/E without any fundamental deterioration, making the valuation increasingly attractive, especially if the company again delivers an earnings surprise.

Korean semiconductor materials stocks have lagged equipment peers and are trading at lower valuations, while the underlying memory capex expansion (NAND upgrades, new fabs) will eventually drive materials demand higher. Stocks like Hansol Chemical, ENF Technology, Solbrain, TCK, and Leeno Industrial offer a catch-up re-rating opportunity, with global number-ones TCK and Leeno particularly well-positioned.

Micron's new Supply Chain Agreements (SCA) with take-or-pay clauses represent a structurally stronger contract form than legacy LTAs, shifting price and inventory risk back to memory buyers. This permanently improves pricing power and profit stability for memory makers. SK hynix and Samsung trade at significant EV/EBITDA discounts to Micron (5.2x and 4.x vs. Micron's 7.4x), yet benefit equally from the same structural tailwind.

Hyundai Motor's P/E has fallen to around 10x, a level that now offers an attractive entry point after a significant correction. The low multiple provides a margin of safety for a major automaker.

Micron's new Supply Chain Agreements (SCA) with take-or-pay clauses represent a structurally stronger contract form than legacy LTAs, shifting price and inventory risk back to memory buyers. This permanently improves pricing power and profit stability for memory makers. SK hynix and Samsung trade at significant EV/EBITDA discounts to Micron (5.2x and 4.x vs. Micron's 7.4x), yet benefit equally from the same structural tailwind.

Hyundai Rotem, a defense and heavy industry company, has sold off sharply and fallen to 17x P/E. For long-term investors, the current valuation offers an opportunity for significant returns in 1-2 years as rotation away from the stock subsides.

GiGaVis is one of the few KOSDAQ-listed semiconductor and IT equipment names that has sustained a steady uptrend with relatively low volatility, repeatedly hitting new all-time highs while peers correct.

Bitcoin shows resilience despite geopolitical tensions and ETF outflows. The pace of outflows is slowing, and on-chain data indicates that large whale entities are accumulating, moving coins off exchanges. Seasonally weak period (70% done) is expected to end around October, supporting a potential recovery.

Samsung Electro-Mechanics (삼성전기) is on the cusp of an MLCC pricing upcycle driven by a supply shortage that has barely begun. Prices have not yet risen in Q1, but historical cycles show 30% increases over 1.5–2 years. Even without price hikes, earnings are strong; an eventual ASP increase to 7 KRW could push the MLCC division's operating profit to 2tn KRW, supporting a SOTP valuation of up to 180tn KRW market cap. Demand risk is distant as price increases are still ahead.