500 Trillion Won in Retirement Funds Are Moving… Has the Securities Stock Explosion Countdown Begun? / When Will Foreign Capital to Revive KOSDAQ Come In? | Oh Hyun-jin Team Leader

Summary

Oh Hyun-jin, Team Lead at Lucent Invest, analyzes the bullish case for Korean securities stocks. He highlights structural liquidity inflows from record trading volumes, retirement pension equity allocations, the National Growth Fund, and KOSDAQ reforms. He recommends buying the four cheapest large-cap securities firms—Kiwoom, Samsung, Korea Investment, and NH Investment—on pullbacks due to low valuations and strong earnings, while warning that Mirae Asset Securities is expensive due to its SpaceX premium. The video also touches on tax benefits of ISA accounts and the upcoming Toss Securities IPO as a potential disruptor.

• Record trading volumes and over 100 million active accounts are boosting brokerage revenue for securities firms.
• 500 trillion won in retirement pensions are increasingly allocated to equities, providing structural demand.
• The National Growth Fund (100+ trillion won in 5 years) will channel additional liquidity into the Korean stock market.
• KOSDAQ market reforms aim to improve trust and may attract foreign capital.
• Oh prefers Kiwoom, Samsung, Korea Investment, and NH Investment due to low P/E of 7-8x versus Mirae Asset's 18x.
• Securities stocks are currently high; the strategy is to buy on dips rather than chase.
• ISA accounts offer significant tax advantages but are a personal finance tool, not a tradeable asset.
• Toss Securities' dual IPO could disrupt the competitive landscape but is not yet actionable.