[#RealMarket] US-Iran War Tensions Rise, Settlement or Airstrike? / Next Week, Will KOSDAQ's Surge Continue? | Director Lee Ju-yeon

Summary

Director Lee Ju-yeon reviews the week's markets amid escalating US-Iran tensions and discusses catalysts for KOSDAQ's revaluation, including pension fund mandates and policy funds. She dives deep into the semiconductor supply chain, highlighting substrates, MLCC, sockets, and packaging equipment as key beneficiaries of AI chip demand from Qualcomm and others. Robotics and clean energy are presented as ongoing themes, while biotech conferences are noted as upcoming events. The overall tone is cautiously bullish on Korean semiconductors and KOSDAQ, contingent on the geopolitical outcome.

• US-Iran tensions create uncertainty; markets fell late in the week on conflicting headlines.
• KOSDAQ is expected to benefit from structural policy support: pension fund allocation, innovation funds, and government bio-vaccine fund.
• Semiconductor equipment/materials (SOBUJANG) are favored for AI chip demand from Qualcomm's expansion into on-device AI, automotive, and data center.
• Substrate stocks (Simmtech, TLB, etc.) are in a supply-driven ASP upcycle, with price increases accelerating in Q1.
• MLCC stocks (Samsung Electro-Mechanics, LG InnoTek) also enjoy rising ASPs due to tight supply.
• Semiconductor test sockets (Leeno Industrial, ISC) are structurally growing as chip complexity increases.
• Robotics (Hyundai Motor, LG Electronics) remain a core theme with humanoid robot milestones.
• Biotech conferences (ASCO, ADA) are upcoming but no specific trade recommendations are made.