Park Jung-ho

Korean AI-related sectors (semiconductors, energy) continue to show strong earnings improvement and growth potential, while the rest of the real economy is extremely weak. Investors should focus on AI-linked Korean stocks rather than the broader market.

Korean AI-related sectors (semiconductors, energy) continue to show strong earnings improvement and growth potential, while the rest of the real economy is extremely weak. Investors should focus on AI-linked Korean stocks rather than the broader market.

Semiconductor companies are the essential 'pickaxes' for the AI industry, selling to all players regardless of which AI firm ultimately wins. They provide a hedging and risk-diversifying role within the AI buildout, with long-term contracts offering resilience. As the AI sector begins to differentiate into winners and losers, these semiconductor suppliers will benefit from demand from both sides.

Energy is the next major bottleneck after semiconductors, driven by data center demand. SK Innovation holds a unique position with its SMR technology, overseas natural gas equity stakes, and battery integration, making it a key long-term beneficiary despite short-term financial challenges.