KOSPI Is Severely Undervalued: How to Overcome Extreme Volatility? | Chesley Investment Advisory Executive Director Park Se-ik

Summary

Park Se-ik reviews market news and strategy, covering retail rotation into US leveraged ETFs, Chinese memory expansion, and KOSPI valuation. He relays a view that KOSPI is deeply undervalued and food/beverage stocks are attractive, while distinguishing HBM leaders from commodity memory red oceans. He also warns retail investors to avoid leveraged ETFs and explains his tactical 15% profit-taking approach in Korean equities.

• Retail buying shifted into US equities and leveraged semiconductor ETFs, totaling about 10 trillion won, while Korean markets fell.
• Park criticizes leveraged ETFs and urges regulatory bans, especially for 3x semiconductor products.
• China's CXMT and YMTC are expanding aggressively in legacy DRAM and NAND, creating long-term pressure on Samsung and SK hynix.
• HBM and advanced memory are viewed as custom, TSMC-like opportunities for Korean memory makers and Micron.
• Lee Chae-won's interview argues KOSPI is extremely undervalued and highlights food and beverage stocks as attractive.
• Park outlines his CCM tactical strategy: take profits after 15% moves and phase in new buying around Chuseok if macro risks stay contained.