Hyundai Motor Is Just Getting Started, Why It Is the Calm Before the Storm | Song Seon-jae, Team Lead, Hana Securities Research Center

현대차는 이제 시작, 폭풍전야인 이유 | 송선재 하나증권 리서치센터 팀장 [더블 업]
Watch on YouTube ↗  |  February 03, 2026 at 01:51  |  14:41  |  3PRO TV (삼프로TV)
Speakers
Song Sun-jae — Team Leader, Hana Securities Research Center

Summary

Song Seon-jae, Team Lead at Hana Securities Research Center, explains why Hyundai Motor is a key stock to watch, driven by Boston Dynamics and the humanoid robot theme. He argues the global humanoid robot market could eventually be twice the size of the auto market, and that Hyundai and Kia offer exposure through their Boston Dynamics stake. He also highlights Korean auto parts suppliers as potential robot component beneficiaries and notes Tesla's mass-production advantage in humanoid robots. The discussion covers Boston Dynamics' potential IPO, Hyundai's 2028 commercialization plan, and Kia's higher dividend yield.

  • Hyundai Motor is viewed as re-rating on Boston Dynamics and humanoid robotics.
  • Global humanoid robot market is projected to be much larger than the auto market.
  • Boston Dynamics plans factory deployment, data collection, and 2028 commercialization.
  • Kia offers indirect Boston Dynamics exposure and a higher dividend yield.
  • Korean auto parts suppliers can reuse mechanical component capabilities for robots.
  • Tesla is seen as a mass-production leader among US humanoid robot developers.
  • Boston Dynamics IPO could raise valuation but dilute Hyundai Motor Group's stake.
  • The speaker remains cautious on the low-growth global auto market and Chinese EV competition.
Ideas
Song Sun-jae Team Leader, Hana Securities Research Center 1:00
Hyundai Motor re-rating via Boston Dynamics robots
Hyundai Motor is no longer just a low-growth automaker. Through Boston Dynamics, AI robotics partnerships, and a plan to deploy humanoid robots in its factories to collect data and commercialize by 2028, it can leverage its large auto manufacturing base and value chain to become a leading humanoid robot player. This can improve ROE and drive a re-rating while easing concerns about its auto earnings sustainability amid Chinese EV competition.
005380.KS HIGH
Song Sun-jae Team Leader, Hana Securities Research Center 8:15
Humanoid robot market can double autos
The global humanoid robot market can eventually reach about 1 quadrillion won, roughly double the global auto market, based on a scenario of one robot per household and industrial robots replacing about 20% of labor. It is a long-term growth market much larger than autos, though it will take time to develop.
Humanoid robotics HIGH
Song Sun-jae Team Leader, Hana Securities Research Center 10:14
Tesla has humanoid robot mass-production edge
Among US humanoid robot developers, Tesla and Boston Dynamics are best positioned for mass production because both are backed by large auto manufacturing operations. Tesla produces about 1.8 million vehicles annually, while Hyundai Motor Group produces over 7 million, giving them abundant mass-production experience and established value chains. This gives Tesla a competitive edge in humanoid robot scaling.
TSLA MED
Song Sun-jae Team Leader, Hana Securities Research Center 11:27
Auto parts makers can supply robot components
Robot hardware relies on mechanical components such as actuators, motors, reducers, controllers, and encoders, which auto parts makers already produce for cars. These suppliers can redeploy their existing sourcing, manufacturing, and value-chain capabilities for robot components as humanoid robots scale, allowing them to participate in a new growth industry, improve ROE, and potentially re-rate.
Korean auto parts/robot component suppliers MED
Song Sun-jae Team Leader, Hana Securities Research Center 13:07
Kia offers robotics stake and dividends
Kia has indirect exposure to Boston Dynamics through the Hyundai Motor Group structure: Hyundai Motor, Kia, and Mobis own HMG Global, which holds 55% of Boston Dynamics, in a 5:3:2 ratio, so Boston Dynamics value gains flow to Kia. In addition, Kia offers a higher dividend yield, about 4% versus Hyundai Motor's 2%, with about 4% paid as a year-end dividend versus less than 1% for Hyundai Motor, making it more attractive for shareholder returns, especially around the March dividend.
000270.KS HIGH
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This 3PRO TV (삼프로TV) video, published February 03, 2026, features Song Sun-jae discussing 005380.KS, Humanoid robotics, TSLA, Korean auto parts/robot component suppliers, 000270.KS. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Song Sun-jae  · Tickers: 005380.KS, Humanoid robotics, TSLA, Korean auto parts/robot component suppliers, 000270.KS