KOSPI 10,000 Point Era...Don't Regret Poor Trading Timing | Lee Jaeman, Head of Global Investment Analysis, Hana Securities Research Center [Double Up]

Watch on YouTube ↗  |  May 27, 2026 at 02:14  |  32:10  |  3PRO TV (삼프로TV)
Speakers
Lee Jaeman — Head of Global Investment Analysis, Hana Securities Research Center

Summary

Lee Jaeman presents a bullish KOSPI 10,000 target based on 2025 earnings and average PER. He recommends holding Samsung Electronics and SK Hynix, and suggests rotating into non-semiconductor sectors during pauses. He also flags WTI above $90 in Q4 as a risk signal and identifies several undervalued mid-cap stocks.

  • KOSPI target of 10,379 points derived from 2025 net profit and historical PER.
  • Samsung Electronics and SK Hynix are not overvalued given their 72% profit share.
  • When semiconductors pause, rotate into secondary batteries, shipbuilding, equipment, machinery, energy, and steel.
  • Specific rotation candidates include Samsung Electro-Mechanics, LG Innotek, and POSCO.
  • Mid-cap stocks like Samsung Heavy, KAI, AP, Samsung E&A, and Hyundai Marine appear undervalued on profitability.
  • WTI crude above $90 in Q4 could be a bearish signal for equities.
  • Alphabet may become more attractive than Nvidia as its cloud and AI revenue diversifies.
  • Investors are advised to hold leadership stocks through volatility.
Trade Ideas
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 3:57
KOSPI target 10,379 points from earnings
Based on 2025 KOSPI net profit estimate of 853 trillion KRW and the historical average PER of 9.96x, the KOSPI index can reach approximately 10,379 points. Current PER of 7.7x leaves room for expansion even without a re-rating, and earnings growth supports the target.
EWY HIGH
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 6:57
WTI above $90 threatens equities in Q4
If WTI crude oil remains above $90 in Q4 2025, the year-over-year increase in oil prices could exceed the CapEx growth rate of US IT hyperscalers, turning oil into a cost burden that hurts overall corporate earnings. This is a key risk signal to monitor for the bull market.
CL HIGH
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 9:57
Samsung and SK Hynix undervalued vs profit share
Samsung Electronics and SK Hynix together account for 48% of KOSPI market cap but 72% of its net profit, implying the stocks are not overvalued relative to their earnings contribution. The profit share supports further upside, similar to TSMC's relationship with the Taiwan Weighted Index.
000660.KS 005930.KS HIGH
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 19:43
Buy non-semiconductor sectors when semiconductors pause
When semiconductor stocks pause or rise modestly (0-4% daily), rotation into non-semiconductor sectors such as secondary batteries, shipbuilding, semiconductor equipment, machinery, energy/chemicals, steel, and specific stocks like Samsung Electro-Mechanics, LG Innotek, and POSCO tends to outperform. These sectors benefit from AI infrastructure, energy storage, defense exports, and turnarounds.
Korean secondary battery sector 471990.KS Korean shipbuilding sector 009150.KS 005490.KS Korean machinery sector Korean energy/chemicals sector Korean Steel Sector 011070.KS MED
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 24:42
Buy Korean mid-caps with strong profitability
Several mid-cap stocks within the top 100 by market cap have higher rankings in sales growth, net profit growth, operating margin, and ROE than their market cap rank, suggesting they are undervalued and could re-rate. Examples include Samsung Heavy Industries, Korea Aerospace Industries, AP (cosmetics), Samsung E&A, and Hyundai Marine Solution.
010140.KS 047810.KS AP (Korean cosmetics) 028260.KS 443060.KS MED
Lee Jaeman Head of Global Investment Analysis, Hana Securities Research Center 27:57
Alphabet could overtake NVIDIA as top pick
Alphabet (Google) has been diversifying its revenue through cloud and AI investments, while Nvidia is heavily dependent on data center sales. As Alphabet's cloud segment grows and its AI investments (OpenAI, Anthropic) gain value, Alphabet could become more attractive than Nvidia and potentially overtake it in market cap.
GOOGL MED
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This 3PRO TV (삼프로TV) video, published May 27, 2026, features Lee Jaeman discussing EWY, CL, 000660.KS, 005930.KS, Korean secondary battery sector, 471990.KS, Korean shipbuilding sector, 009150.KS, 005490.KS, Korean machinery sector, Korean energy/chemicals sector, Korean Steel Sector, 011070.KS, 010140.KS, 047810.KS, AP (Korean cosmetics), 028260.KS, 443060.KS, GOOGL. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Jaeman  · Tickers: EWY, CL, 000660.KS, 005930.KS, Korean secondary battery sector, 471990.KS, Korean shipbuilding sector, 009150.KS, 005490.KS, Korean machinery sector, Korean energy/chemicals sector, Korean Steel Sector, 011070.KS, 010140.KS, 047810.KS, AP (Korean cosmetics), 028260.KS, 443060.KS, GOOGL