The Real Turning Point Has Arrived...! What is the Market's Fate? | Baek In-jae, Deputy Center Head

The Real Turning Point Has Arrived...! What is the Market's Fate? | Baek In-jae Deputy Center Head [Double Crew]
Watch on YouTube ↗  |  July 28, 2026 at 01:48  |  29:44  |  3PRO TV (삼프로TV)
Speakers
Baek In-jae — Deputy Center Director, Hana Securities

Summary

Deputy Center Head Baek In-jae discusses the market sell-off driven by Chinese memory fears and geopolitical tensions. He presents several long investment ideas: Samsung Electronics on foundry re-rating, SK Telecom as a beneficiary of AI capital circulation within SK Group, SK Hynix on near-term earnings catalysts, and Korean equities via EWY on emerging foreign retail flows. He urges a long-term perspective and cautions against panic selling.

  • AI Summit signals cooperation: Broadcom-Samsung foundry deal and Nvidia's investment in Naver.
  • Chinese memory threat (CXMT) is overblown; industrial gap remains but sentiment drives fear.
  • Samsung Electronics foundry may re-rate from cyclical to structural growth with Broadcom deal.
  • SK Telecom could be the final beneficiary of SK Group's vendor financing and Nvidia's AI capex.
  • SK Hynix's upcoming earnings and LTA details are catalysts, along with shareholder return improvements.
  • Growing foreign retail access to Korean stocks (EWY) could bring new demand in H2.
  • Historical patterns suggest the AI cycle is not over; earnings growth deceleration doesn't spell doom.
  • Investors should maintain a long-term view and not sell into panic.
Ideas
Baek In-jae Deputy Center Director, Hana Securities 6:06
Final beneficiary of SK Group's AI loop.
Within the SK Group, vendor financing and circular investments from Nvidia's massive AI capex (flowing through SK Hynix) ultimately funnel capital into SK Telecom, making it a key beneficiary. SK Telecom is positioned at the end of the investment loop and could be the final recipient of the group's AI-driven capital circulation. The stock does not yet reflect this beneficiary status.
017670.KS MED
Baek In-jae Deputy Center Director, Hana Securities 6:16
Foundry re-rating potential on Broadcom deal.
Samsung Electronics' foundry business may be re-rated upwards following the Broadcom cooperation agreement on long-term supply. The company's P/B ratio could expand from the current 4.4x towards 10x if investors recognize its structural shift to profitable, long-cycle contracts similar to TSMC, which trades at 20x P/B. Historically, long-term holders have been rewarded through cycles, and the current setup suggests a structural growth story rather than a cyclical downturn.
005930.KS MED
Baek In-jae Deputy Center Director, Hana Securities 9:45
Earnings catalyst with LTA floor, shareholder returns.
SK Hynix's upcoming earnings release and conference call are expected to detail long-term agreements (LTA) that will put a floor under memory prices, while also unveiling stronger shareholder return policies. These near-term catalysts should provide support for the stock amid market turmoil, as the company has already hinted at massive long-term supply commitments from Nvidia.
000660.KS HIGH
Baek In-jae Deputy Center Director, Hana Securities 27:12
Foreign retail inflows to boost Korean stocks.
A new source of demand for Korean stocks is emerging as foreign retail investors gain easy access to the Korean market through international brokerage apps and ETFs. This 'reverse Seohak ant' phenomenon, combined with foreign institutional inflows and potential rotation from overvalued Chinese memory stocks, could provide sturdy support for the Korean equity market in the second half.
EWY MED
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This 3PRO TV (삼프로TV) video, published July 28, 2026, features Baek In-jae discussing 017670.KS, 005930.KS, 000660.KS, EWY. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Baek In-jae  · Tickers: 017670.KS, 005930.KS, 000660.KS, EWY