What will change after the war ends? Energy, resources, AI industry reorganization, who is the winner?

Summary

The video discusses post-war market themes, with guest So Jin-woong arguing that the same pre-war trends (AI, energy security, defense) will persist. He identifies KOSPI as undervalued, Japanese trading companies as long-term resource beneficiaries, and Japanese semiconductor equipment as structurally strong. The discussion also covers Japan's yen intervention, BOJ policy, and the robotics sector.

• So Jin-woong believes the market has already priced in the war's end, with AI, energy, and defense remaining key.
• He argues KOSPI is cheap relative to fast-rising earnings estimates.
• Japanese trading companies are seen as long-term plays on resource scarcity in a multipolar world.
• Japanese semiconductor equipment makers are structurally strong due to HBM and foundry expansion.
• China's hardware and cyclical sectors may get a re-rating, but no specific trade is given.
• Japan's yen intervention at 160 is effective, and BOJ is expected to hike rates in June/July.
• Humanoid robotics is still early; China is ahead in volume, Japan in high-value components.
• The hosts (Yeo Do-eun and Heo Jae-mu) facilitate discussion on Asian markets and sector rotations.