Only Samsung and SK hynix passed? Is something big coming again? | Baek In-jae, Deputy Center Head, Hana Securities Sales & Financial Center

오로지 삼성,하이닉스만 통과했다? 또 큰 거 오나 | 백인재 하나증권 영업부금융센터 부센터장 [더블 크루]

Watch on YouTube ↗ | February 10, 2026 at 01:47 | 19:14 | 3PRO TV (삼프로TV)

Speakers

Baek In-jae — Deputy Center Director, Hana Securities

Vincent — Channel Strategy Team Lead, Hana Securities Research Center

Jeong Pro — Host

Summary

Baek In-jae, Deputy Center Head at Hana Securities Sales & Financial Center, argues that Korean equities remain investable despite market fears. He highlights the 'Itaewon Shorts' sector basket, says Samsung Electronics and SK hynix have a strong HBM4 edge after Micron's test setback, and expects KOSDAQ to benefit from National Pension Service benchmark changes. The discussion also covers new KOSDAQ active ETFs and what Micron's future HBM4 attempts mean for competition.

Baek presents the 'Itaewon Shorts' basket: secondary battery, solar, nuclear, semiconductor, bio, and holding companies.
He says sharp market rallies create overdone crash fears but not a clear market top.
He notes Micron failed HBM4 testing, leaving Samsung Electronics and SK hynix as the main qualified suppliers.
He expects HBM demand-supply tightness to persist through 2028 and supports continued semiconductor exposure.
He argues KOSDAQ should not be ignored because the National Pension Service's 2026 benchmark change could bring at least 10 trillion won of inflows.
He prefers KOSDAQ active ETFs for exposure because stock selection is difficult for individuals.
Vincent says Micron's decision to keep trying HBM4 qualification is a key competitive watch item.
The video ends with discussion of KOSDAQ active ETF launches by Timefolio and other asset managers.

Ideas

Baek In-jae Deputy Center Director, Hana Securities 7:24

Buy Korean sectors on market fear.

Baek recommends the 'Itaewon Shorts' basket—secondary battery, solar, nuclear, semiconductor, bio, and holding-company sectors—as areas to buy when the Korean market becomes volatile. He expects these sectors to remain valid through the year and says holding them can reduce anxiety during market shakeouts.

Baek In-jae Deputy Center Director, Hana Securities 10:03

Samsung, SK hynix lead HBM4 supply.

Micron failed or dropped out of HBM4 testing, leaving only Samsung Electronics and SK hynix as qualified suppliers. Baek argues this two-player structure strengthens the Korean memory makers, that competitors lack the capex and capability to challenge them near term, and that HBM demand-supply will remain extremely tight through 2028, keeping semiconductor investment valid.

Vincent Channel Strategy Team Lead, Hana Securities Research Center 11:51

Watch Micron's HBM4 qualification attempts.

Micron failed or dropped out of HBM4 testing and its shares fell, so Vincent says the key issue to monitor is whether Micron exits the HBM market or keeps attempting qualification. If Micron leaves, it would be short-term positive for Samsung and SK hynix but could invite longer-term monopoly/containment risks; if it keeps trying, competitive pressure remains a watch item.

Baek In-jae Deputy Center Director, Hana Securities 12:47

KOSDAQ set for pension-driven inflows.

The National Pension Service's 2026 benchmark plan is expected to raise KOSDAQ's weight to roughly the same 11% level as KOSPI, which could drive at least 10 trillion won of inflows. Because KOSDAQ's total market cap is only around 600 trillion won—similar to SK hynix—that flow is meaningful; Baek says investors should not ignore KOSDAQ, should gradually increase weight, and expects KOSDAQ to rise quickly, potentially reaching 3,000 within the year.

Baek In-jae Deputy Center Director, Hana Securities 16:42

Use active ETF for KOSDAQ exposure.

New KOSDAQ active ETFs are being launched, with Timefolio first and Samsung Asset Management and others preparing products. Baek says individual KOSDAQ stock selection is difficult and expertise-intensive, so using an active ETF to delegate selection is an attractive way to gain KOSDAQ exposure at this timing; passive ETFs are also viable, but active is especially appealing now.

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This 3PRO TV (삼프로TV) video, published February 10, 2026, features Baek In-jae, Vincent discussing Korean secondary battery sector, Korean solar sector, Korean nuclear sector, Korean semiconductor sector, Korean bio sector, Korean holding companies sector, 005930.KS, 000660.KS, MU, ^KQ11, KOSDAQ Active ETF. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Baek In-jae, Vincent · Tickers: Korean secondary battery sector, Korean solar sector, Korean nuclear sector, Korean semiconductor sector, Korean bio sector, Korean holding companies sector, 005930.KS, 000660.KS, MU, ^KQ11, KOSDAQ Active ETF