Best Momentum for Hynix: What Will Happen? | Lee Geon-gyu, CEO of Renaissance Asset Management

Summary

Lee Geon-gyu, CEO of Renaissance Asset Management, dismisses recent market worries as noise, arguing Korean equities remain undervalued with KOSPI on track to 12,000. He highlights memory semiconductors as the top sector and makes a detailed bull case for SK Hynix, driven by a forthcoming Nasdaq ADR listing. He also sees KOSDAQ as oversold with a policy catalyst, favoring materials/parts/equipment over biotech.

• Weakness in KOSPI is driven by temporary noise (US-Iran, CXMT, OpenAI IPO) that does not damage fundamentals.
• Korea's earnings growth is among the highest globally, yet KOSPI trades at only 7.5x P/E, supporting a 12,000 target.
• Memory semiconductors remain the strongest segment with the best momentum, valuation, and big-tech capex still expanding.
• SK Hynix is highlighted for its planned Nasdaq ADR, which could trigger passive ETF inflows and rerate the stock versus US peers.
• KOSDAQ is oversold versus KOSPI, and upcoming government measures and tiered classifications will drive fund flows.
• Within KOSDAQ, 소부장 (materials/parts/equipment) is preferred over biotech for mid-to-long-term performance.
• The host Vincent echoes the call, urging investors to buy memory leaders Samsung and SK Hynix on dips.