Ideas
KOSPI uptrend likely continues
KOSPI is not fully macro-safe, but foreign investors have been net buyers since April, customer deposits and liquidity are high, and EPS estimates are rising with Samsung Electronics and SK hynix. Breaking the prior high supports further upside, so investors should stay constructive and buy rather than sell.
Buy Samsung Electronics on dips
Samsung Electronics has been relatively lagging SK hynix and was additionally held back by labor-strike uncertainty, so he advises buying on dips. It is the cheapest and most attractive among Samsung Electronics, SK hynix, and Nvidia, and if memory becomes customized or foundry-like, with customers such as Google or Nvidia requesting specific DRAM, Samsung can move from a cyclical memory multiple toward a TSMC-like structural growth valuation.
Shipbuilders breaking above prior highs
Korean shipbuilders are breaking above prior highs. Hyundai Heavy Industries' engine and order momentum is still strong, Samsung Heavy is moving similarly, and Hanwha Ocean's recent lag is due to convertible-bond overhang rather than weak fundamentals.
Tactical refiners trade, exit soon
High oil and rising naphtha prices are improving near-term refining and petrochemical margins, and low-PBR names like S-Oil, SK Innovation, GS Holdings, and HD Hyundai rallied. But because he expects oil to fall within three months, this is a tactical trade to enjoy and exit, not a long-term hold.
Oil likely falls within three months
Oil spiked on Middle East war headlines and confusion over UAE leaving OPEC and OPEC+, but UAE's exit actually points to more supply and war risk may fade. He expects oil to fall within about three months, so high oil is not a durable trend.
Hyundai Motor as physical-AI play
Big tech and Nvidia or Google are seeking physical-world data for robotics and physical AI. Hyundai Motor has real factories and manufacturing data, making it an attractive partner and potentially a highlighted beneficiary among Korean manufacturers.
Renewables show improving chart flows
Renewable-energy-related stocks are showing positive flows. Hyundai Energy Solutions is strong, SK Ocean Plant rebounded with a bullish candle after being pressed, CS Wind's trend is good, and CI Holdings has only paused after an overshoot rather than broken its trend.
GST liquid-cooling adoption likely
Data-center heat removal is a key bottleneck. GST is seen as the most technologically advanced liquid immersion cooling player and is gaining attention even though adoption has not yet started, and the probability of adoption is rising.
DeokSan Hi-Metal watch pullbacks
DeokSan Hi-Metal makes solder balls, an essential packaging material, and has about 60% domestic share. Export data has improved since March, supporting Q1 and Q2 earnings expectations. He recommends not chasing now but watching for a good pullback.
Power equipment has more upside
Power equipment and electrical infrastructure had strong earnings after heavy trading, with wires, transformers, and Doosan Enerbility hitting new highs. The AI investment theme keeps creating power and energy demand, so the sector can continue to rise and energy-source interest remains valid.
Holding companies as stable policy plays
GS, LS, and SK holding companies rose and may receive additional government policy momentum. They are not expected to be highly elastic, but they can be a stable part of a portfolio.
Defense rotation into laggards
Defense remains attractive, but LIG Defense & Aerospace has attracted most of the attention, so money may rotate to laggards such as Hyundai Rotem, Hanwha Aerospace, and Korea Aerospace. Hyundai Rotem was the day's defense star, and he wants to look for the next rotation candidate rather than chase.
Defense rotation into laggards
Defense remains attractive, but LIG Defense & Aerospace has attracted most of the attention, so money may rotate to laggards such as Hyundai Rotem, Hanwha Aerospace, and Korea Aerospace. Hyundai Rotem was the day's defense star, and he wants to look for the next rotation candidate rather than chase.
Watch Samsung equipment capex momentum
Samsung Electronics' final earnings and capex conference call can move front-end and back-end semiconductor equipment names. Valuations are already elevated at 25-60x, so a confirmed investment plan or earnings upgrades are needed before chasing the sector.
ABL Bio awaits tech export
ABL Bio's FDA filing and potential additional BBB-shuttle technology export are key events. Recent selling appears mechanical, and a new multi-trillion won contract could revive the stock.
SOX extended, needs a rest
The Philadelphia Semiconductor Index rose for 18 consecutive sessions, an exceptional move that cannot last too long. Semiconductors need to rest before another leg up, and US big-tech earnings are likely neutral-to-below expectations.
Tesla can reincarnate growth
Tesla has reached maturity but retains a strong brand, loyal customer base, and economic moat, so it can be reborn as a growth company rather than decline. Companies with such optionality remain good long-term investments.
Apple has durable economic moat
Apple has a durable economic moat through high switching costs, ecosystem lock-in, and customer loyalty. Although it is mature and abandoned some new projects, it can reinvest and reincarnate into growth, especially as it pivots toward AI under a new CEO.
Nvidia must prove new pipelines
Nvidia is now a mature growth company that must keep creating new growth pipelines, such as autonomous driving, AI healthcare, robotics, and platform integration, or it risks becoming a mature cash cow. The market is watching whether Jensen Huang can extend the growth story.
Samsung SDI turnaround is underway
Samsung SDI's losses are narrowing for a second and third consecutive quarter, with data-center ESS demand and solid-state battery expectations supporting a profit turnaround. Broker analysis says it is not a sell, and trough-cycle multiples offer valuation support as the discount to LG Energy Solution narrows.
SK hynix is not overvalued
The BNK report's 1.3 million won target and warning that operating margin may fall from 78% to 67% spooked the market, but a 40%+ operating margin is still high growth and the stock trades below 10x P/E. The report is a short-term caution about a fast 90-130 move, not evidence of terminal overvaluation.
KOSPI may pause in May
After a strong run, the market may enter a May-June transition where the index pauses and money rotates into new names. He warns against aggressive trading and says protecting gains is important, although he does not predict a sharp drop.
Nvidia and Broadcom still attractive
For investors with room for US AI semiconductors, Nvidia and Broadcom still look fine. However, he prefers Samsung Electronics because it is cheaper and better positioned among Samsung, SK hynix, and Nvidia.
Lotte Chemical watch restructuring progress
Lotte Chemical surged because naphtha price strength should shrink its losses, while domestic restructuring and Chinese overcapacity remain key. He says investors should not chase now but should understand why it moves, because if supply discipline and demand improve, losses can shrink faster.
Samsung SDI valuation looks stretched
Samsung SDI has rallied near its prior 800,000 won high and around 700,000 won. LS Securities cut to Hold with a lower target, arguing EV battery demand is declining and Chinese competition makes the high valuation hard to justify. He agrees about 90%, saying holders should consider trimming near 700,000 won and new entry is difficult.
Korean-listed US ETFs in pensions
For small investors, Korean-listed US ETFs are more tax-efficient than US-listed US ETFs because capital gains are taxed at 15.4% rather than 22% with only a 2.5 million won deduction. In pension accounts, Korean-listed US ETFs defer tax until pension withdrawal at 3.3-5.5%, so they are best held there. High earners subject to the 20 million won financial-income comprehensive tax may prefer US-listed US ETFs.
Korean-listed US ETFs in pensions
For small investors, Korean-listed US ETFs are more tax-efficient than US-listed US ETFs because capital gains are taxed at 15.4% rather than 22% with only a 2.5 million won deduction. In pension accounts, Korean-listed US ETFs defer tax until pension withdrawal at 3.3-5.5%, so they are best held there. High earners subject to the 20 million won financial-income comprehensive tax may prefer US-listed US ETFs.
Domestic covered calls offer tax-efficient income
Domestic-listed covered call ETFs sell options to generate monthly distributions. In Korea the option premium portion is not taxed, and distributions are not counted for health-insurance premium income. They suit investors who want cash flow in sideways or weakly rising markets, for example TIGER 200 Weekly Covered Call.
AI power bottleneck favors equipment ETFs
AI data centers need enormous electricity, but data-center construction and power-plant progress are bottlenecked by shortages of power equipment; Hyosung Heavy Industries has order lead times into 2031. For AI-power ETF selection, the key is how concentrated each ETF is in LS Electric, Hyosung Heavy Industries, and HD Hyundai Electric. TIGER Korea AI Power Top 3 Plus is most concentrated in the large-cap big three, while RISE AI Power Infrastructure is diversified toward mid and small caps such as Gaon Cable and Daehan Cable.
This 3PRO TV (삼프로TV) video, published April 29, 2026,
features Lee Jae-kyu, Lee Kwon-hee, Park Byeong-chang, Choi Young-joo, Choi Chang-gyu
discussing EWY, 005930.KS, 329180.KS, 010140.KS, 042660.KS, 096770.KS, 010950.KS, 078930.KS, HD Hyundai, WTI, 005380.KS, 322000.KS, SK Ocean Plant, CS Wind, CI Holdings, GST, 077360.KQ, 034020.KS, 010120.KS, 298040.KS, 267260.KS, LS Corp, SK Inc., 064350.KS, 012450.KS, 047810.KS, LIG Defense & Aerospace, Korean semiconductor equipment/materials, ABL Bio, SOXX, TSLA, AAPL, NVDA, 006400.KS, 000660.KS, AVGO, 011170.KS, Korean-listed US ETFs, US-listed US ETFs, TIGER 200 Weekly Covered Call, Korean-listed domestic covered call ETFs, TIGER Korea AI Power Top 3 Plus, K AI Power Core Equipment ETF, H Power Equipment Investment ETF, RISE AI Power Infrastructure ETF.
29 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Jae-kyu,
Lee Kwon-hee,
Park Byeong-chang,
Choi Young-joo,
Choi Chang-gyu
· Tickers:
EWY,
005930.KS,
329180.KS,
010140.KS,
042660.KS,
096770.KS,
010950.KS,
078930.KS,
HD Hyundai,
WTI,
005380.KS,
322000.KS,
SK Ocean Plant,
CS Wind,
CI Holdings,
GST,
077360.KQ,
034020.KS,
010120.KS,
298040.KS,
267260.KS,
LS Corp,
SK Inc.,
064350.KS,
012450.KS,
047810.KS,
LIG Defense & Aerospace,
Korean semiconductor equipment/materials,
ABL Bio,
SOXX,
TSLA,
AAPL,
NVDA,
006400.KS,
000660.KS,
AVGO,
011170.KS,
Korean-listed US ETFs,
US-listed US ETFs,
TIGER 200 Weekly Covered Call,
Korean-listed domestic covered call ETFs,
TIGER Korea AI Power Top 3 Plus,
K AI Power Core Equipment ETF,
H Power Equipment Investment ETF,
RISE AI Power Infrastructure ETF
