Name: If you missed department store stocks, what about hotel stocks? Points to watch now | Myung Min-jun, Kang A-rang, Jung Tae-geun [Stock Beginner Rescue Squad]
Uploaded: 2026-06-10T13:30:33+00:00
Duration: 2924 s

Speakers

Jeong Tae-geun — Director, Mire Economic Research Institute

Summary

Director Jung Tae-geun argues that semiconductor fears are overblown, with SK hynix and Samsung Electronics still offering strong upside based on DRAM export data. He downplays CPI-driven market drops by analyzing potential Fed Chair Kevin Warsh's dovish monetary philosophy, seeing KOSPI dips as buying opportunities. He then introduces a rotation idea into hotel stocks—specifically GSPNL and Seobu T&D—benefiting from surging foreign inbound tourism and a weak Korean won, as department store stocks have already run up.

SK hynix still a buy: DRAM growth rates accelerating, peak far away, speaker added to position.
Samsung Electronics projected to beat consensus massively, with Q2 operating profit possibly exceeding 110 trillion won on DRAM exports and favorable FX.
Potential Fed Chair Kevin Warsh disregards headline CPI, so a high CPI print will not lead to rate hikes; any market dip is a buying opportunity for KOSPI.
Hotel stocks poised to benefit from foreign tourist influx: weak won makes Korean hotels cheaper, occupancy and room rates rising sharply in Seoul.
GSPNL (Nine Tree hotels) and Seobu T&D concentrated in high-occupancy areas like Jung-gu, Jongno-gu, and Yongsan, well-positioned to capture the trend.
Department store stocks were a similar play but have already priced in the trend, making hotels a fresher opportunity.
Japan and Korea rate cuts are expected but mostly priced in, with limited market-moving impact.

Ideas

Jeong Tae-geun Director, Mire Economic Research Institute 0:23

DRAM growth still strong, buy dips.

SK hynix remains a strong buy because DRAM demand growth is still accelerating, far from a peak, and market fears of a semiconductor top are premature. Monthly DRAM export growth rates continue to post 20%+ month-over-month increases, pushing year-over-year growth to over 400%, with no sign of stagnation yet. The speaker added to his position even at higher prices and believes current volatility is a buying opportunity.

Jeong Tae-geun Director, Mire Economic Research Institute 3:43

Warsh Fed will ignore CPI, buy KOSPI.

The KOSPI index is a buy on dips created by CPI fears. The likely new Fed Chair, Kevin Warsh, holds a monetary philosophy that inflation is driven by money supply, not by temporary price spikes or wages, and he prefers trimmed-mean PCE over headline CPI. Therefore, even a high CPI print will not prompt rate hikes. The market is overreacting to economic data, and any sell-off is a buying opportunity for Korean equities.

Jeong Tae-geun Director, Mire Economic Research Institute 23:04

Samsung profit to surge past consensus.

Samsung Electronics is significantly undervalued relative to its upcoming earnings. Based on DRAM export data, Q2 2025 DRAM export value could reach 51 trillion won, implying Samsung's operating profit may exceed 110 trillion won, far above the current consensus of 88-64 trillion won. A favorable KRW/USD exchange rate adds further tailwind. The market is not yet pricing this profit surge.

Jeong Tae-geun Director, Mire Economic Research Institute 33:02

Hotels boom on foreign tourism, won weakness.

Hotel stocks are the next rotation play after department stores. Foreign inbound tourism is surging due to the weak Korean won, making domestic hotels cheaper for foreign visitors. Seoul hotel occupancy rates are rising above 80%, average daily room rates are climbing past 300,000 KRW, and luxury five-star hotels are fully booked. The trend benefits companies with hotels concentrated in high-occupancy areas like Jung-gu, Jongno-gu, and Gangnam. GSPNL holds Nine Tree hotels in those prime locations, and Seobu T&D covers the Yongsan area, both poised for strong revenue growth.

If you missed department store stocks, what about hotel stocks? Points to watch now

Summary

Ideas

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