After HBM4 comes cHBM and zHBM... Samsung Electronics vs SK hynix clash at Semicon; Are financial stocks forever undervalued? Financial holdings and securities reverse KOSPI gains | Kwon Soon-woo, 3PRO TV Coverage Team Lead

HBM4 다음은 c·zHBM…세미콘에서 붙은 삼성전자 vs 하이닉스 금융주 만년 저평가? 금융지주·증권, 코스피 상승률 역전 | 권순우 삼프로TV 취재팀장 [뉴스3]

Watch on YouTube ↗ | February 11, 2026 at 23:18 | 34:45 | 3PRO TV (삼프로TV)

Speakers

Kwon Soon-woo — Reporting Team Lead, 3PRO TV

Summary

The video reviews US market volatility after a strong jobs report, then covers Semicon Korea presentations from Samsung Electronics and SK hynix on HBM4 and next-generation memory packaging. It also discusses the re-rating of Korean bank stocks and the profit surge in Korean securities firms, and it ends with weak Korean youth employment data and AI-related hiring concerns.

US stocks were mixed after January nonfarm payrolls came in strong, complicating Fed rate-cut expectations.
The Philadelphia Semiconductor Index swung sharply, reflecting an unstable but still long-term AI and semiconductor trend.
Samsung claimed HBM4 technical competitiveness and a full-turnkey advantage in DRAM, foundry logic, and packaging, but costs and execution remain risks.
SK hynix emphasized ecosystem cooperation and R&D changes to handle the next technical inflection in memory.
Korean bank stocks have outperformed KOSPI as dividend and shareholder-return policies improve.
Korean securities firms are seeing sharply higher profits, with the upcoming comprehensive investment account seen as a potential catalyst.
Korean youth employment weakened, with AI adoption and a shift to health, social-welfare, and delivery jobs shaping the labor market.

Ideas

Kwon Soon-woo Reporting Team Lead, 3PRO TV 2:33

AI semis volatile, long-term trend intact

The Philadelphia Semiconductor Index had a sharp intraday reversal after the US jobs report, showing that AI and semiconductor stocks are in a good but anxious phase. The long-term AI and semiconductor trend remains intact, but near-term trading is unstable, so short-term traders should stay active while medium- and long-term investors may need to wait through volatility.

Kwon Soon-woo Reporting Team Lead, 3PRO TV 5:03

Samsung HBM4 catch-up needs execution

Samsung Electronics used Semicon Korea to argue it has caught up technically with HBM4 and has a unique full-turnkey advantage because it can do DRAM, foundry logic base die, and packaging in-house, while SK hynix relies on TSMC and Taiwanese partners for logic and packaging. However, HBM4 is made to Nvidia's specification, so exceeding specs does not guarantee pricing power and may mean higher costs and lower margins; Samsung's decision-making structure and prior DRAM design and process issues are not fully resolved. The next-generation custom HBM and hybrid bonding roadmap is the key development to watch.

Kwon Soon-woo Reporting Team Lead, 3PRO TV 7:48

SK hynix leads via cooperation

SK hynix's Semicon Korea presentation focused on ecosystem cooperation, structural and material innovation, and R&D process changes to overcome the next technical inflection in memory. Although the presentation looked less flashy than Samsung's, the speaker viewed it as more meaningful because the industry lacks a clear post-HBM4 roadmap and SK hynix is trying to lead through collaboration.

Kwon Soon-woo Reporting Team Lead, 3PRO TV 9:52

Next-gen HBM packaging themes to watch

As HBM evolves beyond HBM4 toward custom HBM, hybrid bonding, 3D packaging, and glass substrates, the speaker says investors should remember these technology terms because equipment and materials theme stocks tend to rally when next-generation packaging themes come into focus.

Kwon Soon-woo Reporting Team Lead, 3PRO TV 14:54

Korean banks re-rate on shareholder returns

Korean bank stocks have historically been undervalued because of regulatory pressure and suppressed dividends, but the government's push for higher dividends, separate taxation, and stronger shareholder returns is changing the story. The bank index has outperformed KOSPI, KB Financial's PBR has crossed 1x, and with payout ratios near 50% plus buybacks, bank shares can offer better long-term income than deposits for investors willing to hold.

Kwon Soon-woo Reporting Team Lead, 3PRO TV 19:30

Korean securities profit surge continues

Korean securities firms are enjoying a profit surge, with combined net income above 10 trillion won and approaching 70% of bank profits; brokerage and wealth-management revenues are strong. The upcoming comprehensive investment account or ISA business, especially if principal-guaranteed products are allowed, could pull bank deposits into securities firms and act as a structural catalyst.

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This 3PRO TV (삼프로TV) video, published February 11, 2026, features Kwon Soon-woo discussing SMH, AI Semiconductors, 005930.KS, 000660.KS, Korean semiconductor equipment/materials, Custom HBM, Hybrid bonding HBM, 3D packaging, Glass substrate, KBE, 105560.KS, 055550.KS, 175330.KS, Korean securities sector, 071050.KS, 006800.KS, 016360.KS, 039490.KS, 005940.KS. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kwon Soon-woo · Tickers: SMH, AI Semiconductors, 005930.KS, 000660.KS, Korean semiconductor equipment/materials, Custom HBM, Hybrid bonding HBM, 3D packaging, Glass substrate, KBE, 105560.KS, 055550.KS, 175330.KS, Korean securities sector, 071050.KS, 006800.KS, 016360.KS, 039490.KS, 005940.KS