외국인이 코스피를 바라보는 시선ㅣ염승환 LS증권 이사 [더블 업]
Спикеры
Yeom Seung-hwan
— Директор, LS Securities
Yeom Seung-hwan, a director at LS Securities, discusses the Korean market outlook. He views Samsung Electronics and SK Hynix as attractive on a PER basis and expects foreign selling to reverse. He also provides views on oil, robotics, shipbuilding, submarine cables, and lithium as key themes.
- KOSDAQ rally is not imminent; needs biotech and policy catalysts.
- Foreign selling in Samsung and SK Hynix is due to rebalancing and valuation confusion.
- The speaker believes semiconductor valuation will shift from PBR to PER.
- Oil is expected to decline if the Russia-Ukraine war ends.
- Robotics and shipbuilding sectors are favored as recovery plays.
- Submarine cables and lithium are highlighted as structural themes.
- The US easing chip export controls to China is considered unlikely but would be a major negative.
- The overall market is seen as volatile but with a positive long-term trajectory.
Идеи
PBR to PER shift for semicon stocks
Samsung Electronics and SK Hynix are undervalued on a PER basis because the semiconductor cycle has changed due to long-term contracts that stabilize earnings. The market will shift from PBR to PER valuation, supporting significantly higher target prices of 410,000 KRW for Samsung and 2,800,000 KRW for SK Hynix.
Oil to decline if war ends
If the Russia-Ukraine war ends, oil will decline because the pre-war oversupply condition will return, though infrastructure damage will slow the decline. WTI crude is expected to fall to the low $80s from near $100.
Robotics sector benefits from lower rates
Korean robotics stocks will benefit significantly from lower oil and interest rates, as they were hit hard by rate fears and will rebound when the macro environment improves.
Shipbuilding sector benefits from defense demand
The Korean shipbuilding sector is attractive due to strong earnings, US warship demand, potential Canadian submarine contracts, and Taiwan tension-driven defense spending.
Submarine cables strong on renewable shift
Submarine cables are a strong investment theme driven by offshore wind and global energy transition, with supply tightness supporting prices.
Lithium benefits from security mineral trend
Lithium is a security mineral as the US has designated 60 critical minerals including lithium, and moves to reduce China dependence will benefit Korean lithium-related companies.
Далее
This 3PRO TV (삼프로TV) video, published May 22, 2026, features Yeom Seung-hwan discussing 000660.KS, 005930.KS, WTI, Korean robotics sector, Korean shipbuilding sector, Submarine cable sector, LIT. 6 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Yeom Seung-hwan · Tickers: 000660.KS, 005930.KS, WTI, Korean robotics sector, Korean shipbuilding sector, Submarine cable sector, LIT