K-Solar, Separation-Distance Deregulation, Space Is Not the Important Part | Hong Sun-ae, Han Byung-hwa, Director at Eugene Investment & Securities

K-태양광, 이격거리 규제 해제, ‘우주’ 가 중요한게 아닙니다 | 홍선애, 한병화 유진투자증권 이사 [여의도 인사이트]
Watch on YouTube ↗  |  February 12, 2026 at 09:30  |  49:59  |  3PRO TV (삼프로TV)
Speakers
Han Byung-hwa — Director

Summary

Han Byung-hwa, Director at Eugene Investment & Securities, discusses how AI data-center electricity demand is reshaping energy markets and making solar, wind, batteries, and ESS central to the power buildout. He argues the recent solar rally is driven more by US installation data and non-China supply policy than by Musk's space-solar narrative. He also highlights Korean solar policy reform, Hanwha Solutions' margin recovery, Korean renewable developers, and a coming rebound in US EV sales.

  • AI data centers and power shortages are driving demand for fast, cheap electricity supply.
  • US new generation data show solar, wind, and BESS dominate additions, with solar plus ESS favored for data centers.
  • The speaker views Musk's space-solar comments as a trigger, not the main driver of solar stocks.
  • Non-China policies and Chinese supply discipline are supporting US solar prices and Korean suppliers.
  • Korea's separation-distance deregulation and Korean-style IRA could lift domestic solar/wind installations.
  • Hanwha Solutions and Korean renewable developers are highlighted as beneficiaries.
  • Batteries/ESS and K-battery are seen as bottoming, with US ESS and Europe policy as catalysts.
  • US EV sales are expected to rebound next year despite near-term weakness.
Ideas
Han Byung-hwa Director 4:25
AI power demand favors solar-led renewables.
AI data centers are sharply increasing electricity demand, especially in the US. The speaker argues solar is the fastest and cheapest near-term solution, with EIA data showing solar, wind, and BESS dominating new US generation additions. US solar prices are supported by non-China trade barriers, and the November midterm elections could remove policy risk for renewables, making solar a long-term winner.
TAN HIGH
Han Byung-hwa Director 8:44
First Solar benefits from US protection.
First Solar is the representative US solar manufacturer and has outperformed the S&P 500 over the past year. The speaker attributes this to strong US solar pricing and policies that block Chinese imports, giving First Solar a favorable domestic supply-chain position.
FSLR MED
Han Byung-hwa Director 16:43
Hanwha Solutions margins to normalize.
Hanwha Solutions is a representative Korean solar company whose recent earnings were hurt by customs delays and delayed US vertical-integration equipment. As those issues resolve in the second half and AMPC benefits ramp, solar margins should improve and fully normalize next year, while US solar prices remain strong due to non-China policy.
009830.KS HIGH
Han Byung-hwa Director 23:30
Korean solar deregulation boosts domestic demand.
The bill removing separation-distance regulations for solar, together with the new climate-energy ministry, a Korean-style IRA, and a government target to lift annual solar installations from around 3 GW to 10 GW, is a major domestic catalyst. Korean solar manufacturers such as HD Hyundai Energy Solutions and Shinsung should benefit as policy favors local suppliers over Chinese players.
Korean solar sector HD Hyundai Energy Solutions 011930.KS HIGH
Han Byung-hwa Director 27:41
Wind is the next renewable beneficiary.
Solar has already started to move, and wind should follow as the next renewable beneficiary. The Korean government aims to raise wind installations from hundreds of MW to gigawatt scale, and Europe's Made in EU policy should favor Korean companies already localized in Europe. The speaker also notes Vestas has outperformed the S&P 500.
Wind Power Korean offshore wind VWS.CO MED
Han Byung-hwa Director 29:08
Korean renewable developers are undervalued beneficiaries.
Private renewable-energy developers are the most direct beneficiaries of Korea's separation-distance deregulation and government-led renewables expansion. The speaker says their share prices have lagged despite this, and as annual installations at least double by 2030, enterprise value should rise. He names SK Eternix, Keumyang Power, and Daemyung Energy as examples.
Korean renewable energy developers 475150.KS Daemyung Energy HIGH
Han Byung-hwa Director 39:28
K-battery and ESS demand are recovering.
The battery sector has bottomed and already rallied. US ESS demand is growing fast enough to offset weak EV sales, and Europe's Made in EU policy plus the shift to LFP, sodium-ion, and solid-state batteries creates a new opportunity for Korean battery makers, which can start closer to Chinese rivals in these newer technologies.
Energy storage (ESS/BESS) K-battery (Korean battery sector) HIGH
Han Byung-hwa Director 41:33
US EV sales to rebound next year.
The US EV market is not finished. Although 2025 may be weak, the speaker expects double-digit growth next year as about 30 new models launch, California and 18 aligned states reintroduce purchase subsidies, and Toyota, Hyundai, and Kia continue expanding EV lineups while GM and Ford pause.
US electric vehicle market TM 005380.KS 000270.KS MED
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This 3PRO TV (삼프로TV) video, published February 12, 2026, features Han Byung-hwa discussing TAN, FSLR, 009830.KS, Korean solar sector, HD Hyundai Energy Solutions, 011930.KS, Wind Power, Korean offshore wind, VWS.CO, Korean renewable energy developers, 475150.KS, Daemyung Energy, Energy storage (ESS/BESS), K-battery (Korean battery sector), US electric vehicle market, TM, 005380.KS, 000270.KS. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Han Byung-hwa  · Tickers: TAN, FSLR, 009830.KS, Korean solar sector, HD Hyundai Energy Solutions, 011930.KS, Wind Power, Korean offshore wind, VWS.CO, Korean renewable energy developers, 475150.KS, Daemyung Energy, Energy storage (ESS/BESS), K-battery (Korean battery sector), US electric vehicle market, TM, 005380.KS, 000270.KS