KOSPI Has Run Nonstop; It Could Correct More Than 10%

Summary

Park Se-ik used the February 1 morning briefing to frame the current market drop as a volatility shakeout rather than the end of the rally. He argued that excessive leverage is being flushed out and that the KOSPI can still target around 6,500 after a near-term correction, while highlighting watchlist themes such as North Korea-related stocks and the semiconductor cycle. The episode also reviewed news on record Korean exports, a sharp gold/silver/Bitcoin selloff after Kevin Warsh's Fed nomination, Musk's space data-center plan, surging AI investment, and retail losses in leveraged gold and silver ETFs.

• Park Se-ik described the sharp market drop as a volatility and leverage shakeout, not a reason to panic.
• He expects a KOSPI correction in February or this year, followed by a rally toward about 6,500 by late this year or next year.
• He is watching North Korea-related stocks but says a clear trigger is needed before entering.
• He explained that cyclical process industries like memory semiconductors bottom when losses peak and start narrowing, not when earnings are highest.
• He warned that 2x/3x leveraged ETFs are amplifying volatility and causing larger overshoots on both up and down moves.
• News articles covered record January exports led by a 103% surge in semiconductors, plus a gold/silver/Bitcoin selloff after Kevin Warsh's Fed chair nomination.
• Other topics included Musk's plan for a space-based AI data center, an 85% jump in global AI investment, and the SC Group CIO's cautious 10-20% KOSPI correction call.
• The host connected current February volatility to the 2018 flash crash and advised investors to manage health and maintain a calm, longer-term view.