Power Equipment Supercycle in Full Swing? Pay Attention to the Three Musketeers with 32 Trillion in Order Backlog

전력기기 슈퍼사이클 본격화? 수주잔고 32조 쌓인 삼총사 주목ㅣ정프로, 강아랑, 최창규 [주린이 구조대]
Watch on YouTube ↗  |  May 06, 2026 at 13:30  |  52:58  |  3PRO TV (삼프로TV)
Speakers

Summary

Choi Chang-gyu, an ETF expert, explains the power equipment supercycle driven by AI data center demand, highlighting a 32.6 trillion won order backlog for Korean companies and recommending both individual stocks and power equipment ETFs. He also analyzes nuclear power ETF composition and discusses recent market trends like biotech underperformance and retail investor flows into AI-themed funds.

  • AI agent services (especially Claude/Anthropic) are accelerating data center construction, straining power equipment supply.
  • Korean power equipment companies have a combined 32.6 trillion won order backlog, with delivery dates as far as 2031.
  • Korea is uniquely positioned as a reliable supplier due to geopolitical exclusions and shorter lead times versus competitors.
  • Power equipment ETFs offer a low-cost, diversified way to play the theme and benefit from a positive ETF inflow feedback loop.
  • Nuclear power ETFs are examined, but the discussion is more educational than a clear investment recommendation.
  • Biotech ETFs have underperformed due to rising interest rates and corporate events, while AI and power-equipment ETFs dominate retail inflows.
  • Luxury goods ETFs are mentioned casually, but the thesis is not strongly developed.
  • The host recommends KOSPI 200 ETFs for beginners as a simple core holding.
Speakers

Summary

In this episode, ETF expert Choi Chang-gyu presents a detailed investment thesis for Korean power equipment companies, citing an unprecedented order backlog of 32.6 trillion won driven by AI data center demand. He also analyzes nuclear power ETFs, advising selective exposure to pure nuclear construction plays. Additional themes include LNG shipping as a derivative bet and a watch on space stocks ahead of SpaceX's IPO. The discussion covers recent ETF performance and retail investor flows.

  • AI agent services expansion is driving massive data center construction, creating power infrastructure bottlenecks.
  • Korean power equipment companies hold 32.6T won in orders, ensuring multi-year earnings visibility.
  • Nuclear power is positioned as the most stable baseload source for AI data centers, with Korea among the few capable builders.
  • ETF selection is critical: pure nuclear construction ETFs are preferred over those including Korea Electric Power.
  • LNG shipping stocks may benefit from gas power plant demand and LNG carrier orders.
  • SpaceX's June IPO could revive interest in space-related ETFs, currently out of favor.
  • Biotech and luxury goods ETFs have underperformed due to interest rate and China headwinds respectively.
  • For novice investors, KOSPI 200 ETF is recommended due to its heavy weighting in Samsung and Hynix.
Trade Ideas
최창규 이사 이사, NH투자증권 4:00
Power equipment ETFs benefit from inflow-driven feedback loop
For investors who find individual power equipment stocks too expensive (e.g., Hyosung Heavy above 4 million won per share), power equipment ETFs such as RISE AI Power Infrastructure ETF offer diversified exposure at a lower per-share cost. Moreover, ETF inflows create a mechanical buying pressure on the underlying stocks, generating a positive feedback loop that can further lift the ETF's net asset value. This ETF-specific mechanism makes owning the ETF a distinct and attractive implementation of the power equipment theme.
RISE AI Power Infrastructure ETF MED
최창규 이사 이사, NH투자증권 10:24
AI data centers drive power equipment boom.
AI agent services (Claude/Anthropic) are driving explosive data center construction, creating a severe power shortage. Power equipment (transformers, switchgear) is the bottleneck. Korean companies (Hyosung Heavy, LS Electric, Hyundai Electric) have unmatched delivery reliability and a massive order backlog of 32.6 trillion won, ensuring multi-year earnings growth. Political factors exclude Chinese and French competitors, giving Korea a unique advantage.
RISE KS HIGH
최창규 이사 이사, NH투자증권 11:30
Korean power equipment stocks have massive order backlog
AI agent services (e.g., Claude by Anthropic) are driving massive data center construction, which in turn creates an acute shortage of power equipment (transformers, switches, etc.). Korean power equipment companies—Hyosung Heavy Industries, LS Electric, Hyundai Electric, and Sanil Electric—have accumulated a combined order backlog of 32.6 trillion won, with delivery slots extending to 2031. Competitors from China are geopolitically excluded, and French suppliers have 4-5 year lead times, leaving Korea as the only reliable source that can meet tight delivery schedules. This structural advantage supports sustained revenue growth and earnings visibility for these companies regardless of recent stock price increases.
298040.KS 010120.KS 267260.KS 007530.KQ HIGH
최창규 이사 이사, NH투자증권 18:05
Gas demand boosts LNG shipping stocks.
Gas power plants are the fastest to build after solid oxide fuel cells, requiring massive LNG imports. The resulting LNG shortage drives orders for LNG carriers, benefiting Korean shipbuilders (HD Hyundai Heavy Industries, Samsung Heavy Industries, Hanwha Ocean). This is a direct derivative of AI data center power demand.
HD MED
최창규 이사 이사, NH투자증권 18:32
Nuclear power needed for stable baseload.
Nuclear power is the most stable baseload electricity source needed for 24/7 AI data centers. US policy supports new nuclear plants. Korea is one of only four countries capable of building nuclear plants. ETFs with high exposure to nuclear construction companies (Doosan Enerbility, Hyundai E&C, Daewoo E&C) are preferred, while those including Korea Electric Power (KEPCO) are less pure. Investors should select ETFs that directly benefit from nuclear buildout.
NLR MED
최창규 이사 이사, NH투자증권 46:54
SpaceX IPO may lift space stocks.
SpaceX IPO scheduled for June 2025 could revive interest in space stocks. Korean space ETFs and related stocks may see a catalyst. Currently underperforming due to AI dominance, but the event could trigger a move.
Korean Space ETFs (e.g., KODEX Space Industry) LOW
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This 3PRO TV (삼프로TV) video, published May 06, 2026, features 최창규 이사 discussing RISE AI Power Infrastructure ETF, RISE, KS, 298040.KS, 010120.KS, 267260.KS, 007530.KQ, HD, NLR, Korean Space ETFs (e.g., KODEX Space Industry). 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: 최창규 이사  · Tickers: RISE AI Power Infrastructure ETF, RISE, KS, 298040.KS, 010120.KS, 267260.KS, 007530.KQ, HD, NLR, Korean Space ETFs (e.g., KODEX Space Industry)