Marathon Market Begins, Why Impatient Investors Waver | Lee Jaegyu, SK Securities PB Deputy Manager

Summary

SK Securities PB Deputy Manager Lee Jaegyu advises Korean investors to adopt a patient marathon mindset. He sees buying opportunities in Samsung Electronics and SK Hynix based on solid earnings and supply constraints, and expects a rebound rally in oversold KOSDAQ sectors like biotech and defense. He also highlights Samsung SDS as an AI software play and recommends avoiding securities stocks.

• Korean equity market reached low-end valuations, setting the stage for a rebound.
• Samsung Electronics and SK Hynix are strong buys backed by earnings growth and AI supply bottlenecks.
• KOSDAQ and beaten-down sectors (biotech, defense, shipbuilding, cosmetics, entertainment) are poised for a recovery rally.
• Defense stocks get a fresh catalyst from resumption of delayed Middle East contracts.
• Samsung SDS is an undervalued AI infrastructure play as software multiples have collapsed.
• Samsung Biologics and Celltrion are resilient biotech earnings leaders to own.
• Korean securities stocks face limited volume growth and are less attractive than semiconductors.
• Investors should stay calm, think long-term, and avoid knee-jerk reactions to volatility.