Why Interest Rate Hikes Are Currently a Boon for KOSPI | Lee Gwon-hee, Wizwave CEO [Emergency Interview]

Summary

Lee Kwon-hee, CEO of Wizwave, discusses his bullish June outlook for KOSPI, emphasizing buying on dips. He favors Samsung Electronics over SK Hynix for valuation catch-up, sees NAVER as a potential AI platform, and is long-term bullish on Hyundai Motor due to physical AI and robotics. He warns against chasing Samsung preferred shares and advises trimming small-cap KOSDAQ stocks without catalysts.

• KOSPI is cheap at P/B ~8.5x and should re-rate to 9-10x, with rate hikes diverting real estate money into stocks.
• Samsung Electronics has 50,000-60,000 won upside due to P/B gap vs SK Hynix.
• SK Hynix needs a rest but will resume uptrend later.
• Hyundai Motor is a long-term play on physical AI and robotics, with a potential 1.5 million won target.
• NAVER could become an AI platform for SMEs, but execution is key.
• Samsung Electronics preferred shares are a trap with poor liquidity; avoid chasing.
• Small-cap KOSDAQ stocks without special catalysts should be trimmed in favor of large caps.
• Foreign selling is being absorbed by domestic institutional and retail buying, supporting the market.