Black Friday… Samsung Electronics and SK Hynix got even cheaper. 'Reason to regret if you don't have it' / 'Will CXMT's listing drive Korean semiconductors into crisis?' | Director Lee Young-hoon

Summary

Director Lee Young-hoon of iM Securities argues that Samsung Electronics and SK hynix are undervalued after recent sell-offs, with the leveraged-ETF unwind in Samsung presenting a specific buying opportunity. He believes AI demand is far from peaking and will expand into robotics and autonomous driving, while CXMT's upcoming listing is not a real competitive threat. He expects one US rate hike this year but sees it as manageable, and advises accumulating Korean memory stocks on dips during the summer lull.

• Lee Young-hoon sees Samsung Electronics and SK hynix as cheap after exaggerated selling driven by external noise and ETF unwinds.
• Samsung specifically became attractive around 250,000 KRW as the leveraged-ETF bubble deflated, despite improved earnings.
• AI investment demand has not peaked; expansion into humanoids and autonomous driving will drive memory chip demand longer-term.
• CXMT's IPO is not a danger to Korean memory firms because US equipment restrictions limit Chinese advance, and price differentials are small.
• Geopolitical fears (Iran, oil) and foreign short-term selling create volatility but also dip-buying chances.
• The Fed may raise rates once in 2025, but the market has partly absorbed this and it is not seen as a major shock.
• The overall strategy is to gradually accumulate Korean memory stocks during the summer weakness rather than chase aggressively.