Samsung Electronics Foundry to Hit the Jackpot Too: 'TSMC Cannot Produce Nanometer Chips in the US' / The Korean Stock Market's Explosion Is a 10-Year Fortune Ahead | LS Securities Director Yeom Seung-hwan

Summary

In an interview hosted by Park Hyun-sang, LS Securities Director Yeom Seung-hwan argued that Korea has a multi-year opportunity as the US seeks manufacturing partners for physical AI. He sees Samsung Electronics' foundry as a key re-rating catalyst, remains constructive on Korea/KOSPI and Korean robotics, and favors KOSDAQ 150 ETF exposure on dips. He is positive on Korean bio but recommends reducing secondary battery exposure into liquidity-driven rallies.

• Yeom expects Kevin Warsh's Fed appointment to be political and not fully independent, with CPI data and the March hearing as key macro risks.
• Samsung foundry may benefit because TSMC cannot produce 2nm chips in the US, and Samsung's Texas fab plus Tesla order and Exynos validation are potential triggers.
• Samsung Electronics is favored over SK hynix this year due to foundry optionality and low valuation, with estimates rising faster than the share price.
• Korea is viewed as a structural winner in physical AI/hardware manufacturing and robotics because the US cannot rely on China.
• The Korean government's push to raise National Pension KOSDAQ allocation could bring KRW 5-10 trillion into KOSDAQ.
• Yeom recommends buying KOSDAQ 150 ETF on sharp dips, using leverage only very short-term.
• Korean bio remains a leading KOSDAQ sector; secondary battery is not likely to lead due weak EV demand and should be reduced into rallies.
• Host questions focused on Fed independence, Samsung foundry triggers, Korea's strengths, and KOSDAQ stock selection.