The Logic Behind the KOSDAQ Rally: What Are We Missing? | Lee Sun-yeop, CEO of AFW Partners

코스닥 상승 논리, 우리가 놓치고 있는 것은? | 이선엽 AFW파트너스 대표 [신과대화]
Watch on YouTube ↗  |  February 07, 2026 at 02:00  |  41:44  |  3PRO TV (삼프로TV)
Speakers
Lee Seon-yeop — CEO, AFW Partners

Summary

Lee Sun-yeop, CEO of AFW Partners, discusses the KOSDAQ market's rally and policy backdrop. He views the government's KOSDAQ policy as unusually well-designed for fostering venture and growth companies, but cautions that it cannot force the index to 3,000 and valuations are not cheap. He highlights selective opportunities in AI/semiconductor supply chains, secondary batteries, solar, and bio, while warning that robotics and space are bubble-prone. He also advises broad KOSPI-KOSDAQ ETF exposure for investors without specific stock expertise.

  • KOSDAQ policy is seen as well-designed to build a venture and growth ecosystem.
  • The speaker warns against fixating on a KOSDAQ 3,000 target.
  • Liquidity, policy execution, and market cleanup are key to sustaining KOSDAQ gains.
  • AI and semiconductor parts/equipment are highlighted as KOSDAQ opportunities.
  • Secondary battery, solar, and bio are discussed as AI-adjacent sectors.
  • Robotics and space are characterized as future themes with bubble risk.
  • Broad KOSPI-KOSDAQ ETFs are suggested to reduce single-market risk.
  • The speaker stresses volatility and the importance of individual risk tolerance.
Ideas
Lee Seon-yeop CEO, AFW Partners 0:36
KOSDAQ policy positive, but valuations stretched
The government's KOSDAQ policy is unusually well-designed and aims to build an ecosystem for future growth companies rather than simply lift the index. It has strong political backing and should positively affect the market through market cleanup, delisting of weak companies, and potential pension/ETF flows. However, the index cannot be forced to 3,000; valuations are not cheap, and the market is dream- and liquidity-driven. Monitor policy execution, liquidity, and quality growth companies rather than fixating on a target level.
KOSDAQ Index HIGH
Lee Seon-yeop CEO, AFW Partners 17:03
Mixed KOSPI-KOSDAQ ETFs reduce risk
Following specific hot KOSDAQ sectors is difficult and not true investing. Investors without strong single-stock knowledge should invest broadly. ETFs that hold both KOSPI and KOSDAQ stocks can provide exposure to the broad Korean market while reducing single-market risk.
EWY MED
Lee Seon-yeop CEO, AFW Partners 20:08
Semiconductor capex benefits KOSDAQ equipment suppliers
If semiconductor demand improves, capex follows, and the component and equipment suppliers are largely listed on KOSDAQ; they also supply US tech firms. As AI expands, new KOSDAQ business models and value chains in areas such as robotics and space should emerge. Government policy aims to expand these AI-related value chains. This supports KOSDAQ AI and semiconductor parts/equipment suppliers.
Korean semiconductor equipment and materials Korean AI value chain MED
Lee Seon-yeop CEO, AFW Partners 21:40
Batteries essential for AI, policy-supported
KOSDAQ is heavily weighted in secondary batteries, which have corrected. AI cannot operate without power and batteries, and government policy includes energy and battery-related sectors. Therefore the sector is not disconnected from AI and should not be ignored, though valuations are not cheap and investors must be selective.
KOSDAQ secondary battery MED
Lee Seon-yeop CEO, AFW Partners 21:48
Bio improved but remains hard to invest
KOSDAQ has large bio/pharma weight and government policy includes bio. AI can lower drug development costs and shorten timelines. The sector's quality has improved dramatically—around six of ten credible companies now succeed, with real tech exports and milestones, versus past failures. However, it remains the hardest sector: technology is hard to understand, success is not guaranteed, and a better competing drug can make a technology obsolete. Monitor quality improvement but invest cautiously.
KOSDAQ biotech/pharma HIGH
Lee Seon-yeop CEO, AFW Partners 22:55
Solar essential for AI power demand
Government energy policy is mainly focused on solar. AI needs massive electricity, and solar is essential to meeting that power demand. Energy, including solar, is included in the government's industrial policy basket alongside AI, robotics, space, and bio. This makes solar an AI-adjacent power theme.
Korean Solar Energy MED
Lee Seon-yeop CEO, AFW Partners 30:51
Robotics and space are future bubbles
Robotics and space are certain long-term themes, but investors are already pricing in broad adoption and earnings that will not arrive near term. This makes them bubble sectors: liquidity and dreams can inflate them further, but buying on fundamentals or valuation is dangerous. Treat them as bubble/momentum trades rather than clean value investments.
Korean Robotics SPACE HIGH
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This 3PRO TV (삼프로TV) video, published February 07, 2026, features Lee Seon-yeop discussing KOSDAQ Index, EWY, Korean semiconductor equipment and materials, Korean AI value chain, KOSDAQ secondary battery, KOSDAQ biotech/pharma, Korean Solar Energy, Korean Robotics, SPACE. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Seon-yeop  · Tickers: KOSDAQ Index, EWY, Korean semiconductor equipment and materials, Korean AI value chain, KOSDAQ secondary battery, KOSDAQ biotech/pharma, Korean Solar Energy, Korean Robotics, SPACE