SK Hynix Surges 13% in the US…Will the Domestic Market Follow? | Lee Kwon-hee, Wizwave CEO

Summary

Lee Kwon-hee, CEO of Wizwave, discusses the impact of SK Hynix's ADR listing and 13% surge on the domestic Korean memory market. He remains bullish on Samsung Electronics and SK Hynix long-term, as improving shareholder returns and a narrowing valuation gap with Micron will drive a gradual recovery. He strongly favors Korean semiconductor equipment stocks due to a multi-year capex cycle, viewing recent corrections as buying opportunities. He also highlights Korean power equipment as his top pick outside semiconductors after a deep pullback, while remaining cautious on biotech and oil.

• SK Hynix ADR listing is positive for domestic stock, but don't expect a full 13% jump.
• Samsung Electronics and SK Hynix are buyable now; Samsung could reach 400,000 won by year-end.
• Memory chip growth is decelerating; future returns will come from shareholder return policies.
• Korean semiconductor equipment stocks are a strong buy as mega fab projects drive multi-year capex.
• Wonik IPS correction is seen as a buying opportunity.
• Korean power equipment stocks are top pick after a 30-40% correction from highs.
• Biotech remains a cautious watch due to valuation gap with US peers.
• Oil is expected to stay rangebound below $80 amid controlled geopolitical tensions.