Why is Hanwha Aerospace, whose target price rose 20%, still cheap? | Kwon Taek-joong, Vincent, Pyeon Da-song

Summary

Kwon Taek-joong, a PB at The Centerfield W, joined hosts Vincent and Pyeon Da-song to discuss the space industry, focusing on the upstream segment. He argued that cheaper launches and private-sector leadership are expanding the space economy, with satellite and antenna suppliers and Hanwha Aerospace among the clearest Korean plays. The conversation also covered memory semiconductors as the market's true leader, the KOSPI 5,000 level as a buying opportunity, and risks in biotech and obesity-drug royalties. He flagged oil, yields, and VIX as macro risk variables.

• Upstream space includes launch vehicles, satellites, ground equipment, and related research.
• SpaceX's lower launch costs are expanding the overall space economy.
• Korea's rocket manufacturing base may support the domestic space industry.
• Hanwha Aerospace is favored for defense cash flow plus space narrative.
• Satellite and antenna suppliers have the clearest near-term revenue visibility.
• Memory semiconductors, Samsung Electronics, and SK hynix are seen as market leaders.
• The KOSPI correction before 5,000 is viewed as a buying opportunity.
• Biotech and obesity-treatment royalty names face near-term headwinds.