Lee Jong-won

Hyundai Motor (005380.KS) will benefit from physical AI and robotics catalysts including the Boston Dynamics IPO in June, the opening of the Atlas robot training center in Q3, Tesla Optimus mass production in July/August, and growing foreign investor interest. The speaker expects the stock to reach 1 million won this year, roughly double from the current ~557,000 won, driven by these events and the company's leadership in physical AI.

The US Department of Defense budget for autonomous warfare is set to explode from $2.25B to $535B next year (240x increase). LIG Nex1, which acquired Ghost Robotics (maker of the Vision 60 combat robot dog), is uniquely positioned to supply these systems. Strong earnings momentum and favorable operational tests in Ukraine further support this outlook.

Hwashin, a lightweight auto chassis maker, is being re-rated as a robot body parts supplier. Boston Dynamics recently visited the company, signaling its relevance to humanoid robots. With a very low P/E of around 5x and strong existing financials, the shift from thin-margin auto parts to higher-value robot bodies gives Hwashin a valuation re-rating story similar to Hyundai Motor's. The stock is surging daily and still attractive.

Oil prices have already priced in the easing of war risks and improving Hormuz Strait traffic. With the war ending and supply routes gradually normalizing, WTI has dropped from $100 to $75. The speaker expects oil will not rise again and may decline further, with limited upside and potential for additional downside as ceasefire optimism is fully reflected and traffic data recovers.

Hyundai Mobis will be the key actuator supplier for the HMG Robotics value chain, with actuators accounting for about 34.5% of total robot production cost. The company already has 13 trillion won in overseas orders to non-Hyundai automakers, demonstrating scalability. The stock has corrected significantly, offering an attractive entry point for long-term growth as Mobis can supply actuators to robot makers beyond Hyundai.