Why the Samsung Electronics and SK hynix Boom Cycle Will Continue: Don't Worry About Micron's $100 Billion Expansion / The New Leading Semiconductor Stock Is Right Here | Hanbando CEO Park Jun-young

Summary

Park Jun-young, CEO of Hanbando, explains why he believes the AI-driven memory semiconductor boom can continue, citing AI infrastructure demand, physical AI, and slow fab capacity additions. He dismisses Micron's large New York expansion as a near-term threat and favors Samsung Electronics over SK hynix due to its diversified memory, foundry, and HBM4 portfolio. He also highlights SoCAM, sovereign AI benefits for Samsung C&T and Samsung SDS, and selective opportunities in back-end semiconductor equipment.

• Park Jun-young argues the memory semiconductor supercycle can persist because AI infrastructure, physical AI, and replacement demand are overlapping while new supply takes a long time to arrive.
• He says Micron's $100 billion New York expansion is more political and long-dated than an immediate threat to Korean memory makers.
• He prefers Samsung Electronics over SK hynix because Samsung has more standard DRAM capacity and broader foundry and HBM4 optionality, while acknowledging SK hynix's HBM leadership.
• He sees growing SoCAM demand as a positive for standard DRAM, naming Samsung Electronics and PCB substrate supplier ISU Petasys as beneficiaries.
• He views sovereign AI and national data-center projects as a major opportunity for Samsung C&T in construction and Samsung SDS in AI software.
• In equipment, he favors back-end and advanced packaging processes such as TC bonding, metrology, and cleaning, and names ASMPT and Hanmi Semiconductor.
• He sees hybrid bonding as likely to benefit front-end giants Applied Materials and Lam Research, while Korean mid-tier front-end equipment risks being squeezed.