KOSPI is not at its peak yet... This is a bull market you'll regret selling now / The real reason KOSDAQ is falling

[#UrgentMarketUpdate] KOSPI is not at its peak yet... This is a bull market you'll regret selling now / The real reason KOSDAQ is falling | Park Geun-hyung, Department Head

Watch on YouTube ↗ | June 16, 2026 at 05:45 | 22:56 | 815 Money Talk (815머니톡)

Speakers

Park Geun-hyung — Director

Summary

Park Geun-hyung, Department Head at IBK Investment & Securities, explains the KOSPI-KOSDAQ divergence: KOSPI is cheap and earnings-driven thanks to Samsung and SK Hynix, while KOSDAQ suffers from stagnant profits and high valuations. He sees no bubble, forecasts KOSPI 10,000+, and highlights broadening sector participation, trickle-down buying from institutional position limits, and Hyundai Motor Group robotics plays.

KOSPI EPS surging on Samsung/SK Hynix; P/E at historic low 7x, room to 10,000+
KOSDAQ earnings flat, P/E elevated, causing institutional preference for KOSPI
Ceasefire progress pushes oil down, easing inflation and attracting EM flows to Korea
Sector broadening evident in June with retail, financials, utilities joining the rally
AI cycle not near bubble, semiconductor holdings should be maintained
Institutions at position limits on Samsung/Hynix rotate into SK Square, Samsung C&T, Samsung Life
Hyundai Motor Group robotics push lifts HL Mando, Hyundai Mobis, Glovis
Long-term foreign institutional funds beginning due diligence, signaling larger inflows ahead

Ideas

Park Geun-hyung Director 4:44

KOSPI cheap, earnings surging, target 10,000+

KOSPI EPS is surging, led by Samsung Electronics and SK Hynix, while its P/E remains historically cheap at around 7x (10-year average 10x). The ceasefire progress is bringing oil prices down, easing inflation, and triggering EM fund inflows. Long-term institutional foreign funds are now researching Korean stocks, preparing for large inflows. Sector participation is broadening, supporting a sustained rally. The index is not in a bubble, with a target of 10,000+ points. KOSPI is a strong buy.

Park Geun-hyung Director 4:54

KOSDAQ earnings weak, expensive, avoid

KOSDAQ earnings peaked in 2022-23 and have flatlined, while stock prices have risen, pushing P/E higher. In contrast, KOSPI earnings are strong and valuations low. Institutional investors and foreign funds therefore prefer KOSPI over KOSDAQ. Near-term policy momentum for KOSDAQ is still pending, making KOSDAQ unattractive relative to KOSPI.

Park Geun-hyung Director 5:06

Hold semiconductors, not a bubble yet

Samsung Electronics and SK Hynix are the main drivers of KOSPI EPS growth and the AI cycle is not nearing a bubble top (historical pattern of ~5-year cycles, current IPO first-day gains still in normal range). Institutions have hit position limits on these stocks and cannot reduce them. Investors should hold semiconductor positions and not reduce exposure, as the uptrend remains intact and sector broadening lifts overall market.

Park Geun-hyung Director 13:59

Limits force rotation into holding companies

Institutional investors and funds have reached position limit guidelines on Samsung Electronics and SK Hynix (around 60% of portfolio). They cannot buy more, but cannot sell either. This is forcing rotation into related holding companies and associates such as SK Square (holds SK Hynix), Samsung C&T and Samsung Life (hold Samsung Electronics), creating mechanical buying demand.

Park Geun-hyung Director 14:53

Hyundai robotics lifts key group affiliates

Hyundai Motor Group is expanding into robotics, and this thematic push is lifting component and logistics stocks: HL Mando, Hyundai Mobis, and Glovis. These stocks are rising as part of the wider sector diffusion and benefit from the group's robotics initiative.

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This 815 Money Talk (815머니톡) video, published June 16, 2026, features Park Geun-hyung discussing EWY, KOSDAQ Index, 005930.KS, 000660.KS, 028260.KS, 032830.KS, 402340.KS, 204320.KS, 012330.KS, 086280.KS. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Geun-hyung · Tickers: EWY, KOSDAQ Index, 005930.KS, 000660.KS, 028260.KS, 032830.KS, 402340.KS, 204320.KS, 012330.KS, 086280.KS