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A game of kill or be killed has begun: What is the fate of earnings and semiconductors? | Jang Woojin, Geumshigong CEO

A game of kill or be killed has begun." What is the fate of earnings and semiconductors? | Jang Woojin, Geumsigong CEO [Weekend Interview]
Watch on YouTube ↗  |  July 12, 2026 at 02:00  |  50:42  |  3PRO TV (삼프로TV)
Speakers
Jang Woo-jin — Writer

Summary

Jang Woojin warns that the Korean market is in a bearish trend driven by tight liquidity and dollar strength. He recommends reducing equity exposure on rallies and avoiding semiconductor stocks until AI capex concerns clear. He sees relative opportunity in KOSDAQ semiconductor equipment ETFs, while closely monitoring upcoming US economic data for recession risks.

  • Korean market in bearish trend with broken technicals and tight liquidity
  • Advised raising cash and reducing positions on bounces, not selling at lows
  • Warned against buying Samsung Electronics and SK hynix now due to AI capex peak worries
  • Noted that smart money is not buying semiconductors, signaling caution
  • Highlighted KOSDAQ semiconductor equipment/material names as a relative attraction given sharp corrections and capex linkage
  • Discussed SK hynix ADR listing as a potential unwind of pair trades but not a strong trade signal
  • Cited upcoming CPI, PPI, big tech earnings, and US employment data as key macro risk events
  • Suggested that a potential US recession could further pressure markets
Ideas
Jang Woo-jin Writer 2:43
Reduce Korean equity on bounces
The Korean equity market is in a weak trend (bear market). Trendlines on KOSPI and even semiconductor stocks have broken, liquidity is tight with dollar strength and high interest rates, and there is no major event to justify the sharp drop—indicating sustained downward pressure. He advises reducing overall equity exposure on any rebounds and raising cash rather than buying aggressively.
EWY HIGH
Jang Woo-jin Writer 38:38
Avoid Korean semiconductor stocks now
Despite AI capex hopes, the semiconductor sector is showing weak momentum. Smart money is not buying, and there are growing concerns about a peak in AI capex and a plateau in semiconductor prices. He explicitly says not to enter semiconductor stocks now, as the risks outweigh the rewards and the sector needs to prove itself technically (e.g., breaking above the 35-day moving average and prior highs) before committing capital.
005930.KS HIGH
Jang Woo-jin Writer 39:31
Prefer KOSDAQ equipment ETF over KOSDAQ
KOSDAQ semiconductor equipment and materials (소부장) stocks have corrected sharply and now offer a relatively attractive setup. Coupled with the clear logic that SK hynix’s massive capex spending will flow into these suppliers, and despite recent negative news in KOSDAQ biotech, the sector held up. In an environment where liquidity is constrained, the semiconductor equipment ETF may outperform the broader KOSDAQ ETF.
KOSDAQ Semiconductor Equipment/Materials ETF MED
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This 3PRO TV (삼프로TV) video, published July 12, 2026, features Jang Woo-jin discussing EWY, 005930.KS, KOSDAQ Semiconductor Equipment/Materials ETF. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jang Woo-jin  · Tickers: EWY, 005930.KS, KOSDAQ Semiconductor Equipment/Materials ETF