Weaker won, BTS comeback, and China-Japan tensions will boost inbound tourism to Korea, causing hotel room shortages. Hotel Shilla is a key beneficiary and trades near levels where its president bought shares, implying undervaluation.
Holding companies are deeply undervalued and will benefit from value-up policies, including buybacks and dividend increases. SK Holdings is particularly aggressive with a 20% buyback plan, which will increase the controlling shareholder's stake and lead to higher dividends funded by SK Hynix earnings.