Interest Focused on Samsung Electronics and SK Hynix... Which Neglected KOSDAQ Strong Small and Medium-Sized Enterprises Are Supported by Performance?
Interest focused on Samjeon Nikseu... Which neglected KOSDAQ strong small and medium-sized enterprises are supported by performance? | Noh Young-rae, Yeo Do-eun, Heo Jae-mu [Morning N Investment]
Speakers
Summary
Noh Young-rae of NH Investment & Securities argues that easing Samsung Electronics and SK Hynix crowding may bring neglected KOSDAQ small and mid-caps back into focus. He presents three under-researched companies: Genoco, Graphy, and Gamsung Corporation, detailing their business models, financials, and catalysts. The discussion is framed as educational company exploration rather than official buy or sell recommendations.
- AI-driven token and 3D modeling demand is seen as positive for memory and Korean memory names.
- Broad theme: overlooked KOSDAQ small/mid caps may attract attention as the crowded Samsung/SK Hynix trade unwinds.
- Genoco is presented as a KAI-linked aerospace/defense communications supplier with satellite and avionics order catalysts.
- Graphy is presented as a shape-memory clear aligner maker targeting the large wire/bracket orthodontic market.
- Gamsung Corporation is presented as a Snow Peak apparel licensee with domestic stability, overseas expansion, and shareholder returns.
- Speaker notes Graphy remains loss-making and its profit turnaround depends on revenue growth and promotional spending discipline.
- Hosts briefly note KOSPI strength, including SK Square's sharp short-term gain and the 7,200-area resistance.
- The speaker discloses no stock positions and states the presentation is not a recommendation.
Ideas
AI token demand boosts memory demand
The AI era is accelerating high-resolution 3D modeling and token consumption, which will significantly increase memory demand. Korean memory names are already rising on their own without US market support, and this positive memory flow may push markets further.
Overlooked KOSDAQ small caps now attractive
In the first half, investors crowded into Samsung Electronics and SK Hynix, making it hard to notice smaller names. As Samsung Electronics and SK Hynix recover and their crowded supply unwinds in the second half, previously neglected KOSDAQ small and mid-cap companies with solid fundamentals are becoming attractive again.
KAI-linked satellite/defense parts with turnaround optionality
Genoco is a Korea Aerospace Industries-controlled aerospace and defense communication equipment supplier with over 40% R&D staff and a long domestic localization track record. Its defense parts business provides cash flow, while satellite communications and avionics offer large future orders, including reconnaissance satellite maintenance, ANASIS 3 ground station work, KF-21 avionics localization, and unmanned mission computers. Revenue has been growing, and the 2024 loss reflects satellite-related investment and pre-volume parts purchases rather than broken demand. With market cap around 100 billion won and expected annual revenue of 50-60 billion won, the speaker sees an earnings turnaround as large orders materialize.
Shape-memory clear aligner disrupting wire orthodontics
Graphy makes a thermo-responsive shape-memory clear aligner that softens in warm water and then gradually returns to its target shape, cutting treatment time to about half and reducing pain compared with conventional wire or plastic aligners. The company has 70-80% gross margin and fast revenue growth, while operating losses are promotional spending similar to Align Technology's early trajectory. Its acquisition of Ray adds intraoral scanning, vertical integration, and overseas distribution. With about 9,000 domestic dental clinics and most sales already overseas, Graphy can keep penetrating the 70% of the orthodontic market still using wire and brackets.
Snow Peak licensee growing overseas cheap stock
Gamsung Corporation holds the official Snow Peak apparel license and has built a stable domestic premium outdoor apparel cash cow. Revenue rose to 241.5 billion won in 2023 and may reach about 300 billion won in 2024. The company is expanding overseas, especially in China through an exclusive distributor and Southeast Asia, with overseas revenue targets of 19 billion won in 2024 and 45-50 billion won next year. The CEO has repeatedly bought shares, and the company committed to returning 50% of net profit to shareholders for 2024-2026 through buybacks, cancellations, and dividends. The speaker believes the stock is undervalued relative to growth and shareholder-return alignment.
Up Next
This 3PRO TV (삼프로TV) video, published September 08, 2026, features Noh Young-rae discussing 005930.KS, 000660.KS, KOSDAQ, 065620.KQ, 323990.KQ, 036420.KS. 5 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Noh Young-rae · Tickers: 005930.KS, 000660.KS, KOSDAQ, 065620.KQ, 323990.KQ, 036420.KS