If You Buy on Rallies and Sell on Dips, You'll Keep Getting Hurt | Hong Seon-ae, Lee Kwon-hee, Kim Jang-yeol

Summary

The July 24 KOSPI plunged 5.7% in a session marked by its 10th consecutive sidecar and heavy foreign selling. Director Kim Jang-yeol argues the memory stock selloff is overdone, pointing to stable Micron and Hynix ADR prices as evidence that Samsung Electronics and SK Hynix are deeply undervalued. CEO Lee Kwon-hee highlights individual names that are defying the selloff, including Samsung Biologics on strong earnings, Yuhan Corporation on a massive buyback, and value plays like KT&G, Meritz Financial, and defense stocks, while cautioning about structural market distortions from leveraged ETFs.

• KOSPI sank 5.7%, the 10th consecutive session of market-wide sidecar halts.
• Rumors of Chinese smartphone makers boycotting Samsung components and HP cutting server DRAM orders slammed memory stocks.
• Kim Jang-yeol contends Micron and SK Hynix ADR stability indicates local memory shares are oversold and offer deep value.
• Alphabet's free cash flow miss and 6-7% drop raised doubts about Big Tech capex support for memory demand.
• Lee Kwon-hee sees Samsung Biologics' earnings beat and 10% surge as a sign of fundamental strength and upside.
• Yuhan Corporation's 420 billion won buyback (7.5% of shares) is a powerful catalyst, and the stock rose 4% even in the rout.
• Defensive and value stocks such as KT&G, Meritz Financial, and Samsung E&A held up well, offering havens.
• Korean defense stocks look attractive vs US peers (Lockheed Martin, etc.) after steep corrections and similar valuations but higher growth.