Power Stock Investment Timing Has Come… How to Invest with ETFs and Tax Saving Points! | Myung Min-jun, Kang A-rang, Choi Chang-gyu [Stock Beginner Rescue Squad]

Watch on YouTube ↗  |  April 29, 2026 at 14:01  |  46:21  |  3PRO TV (삼프로TV)
Speakers
Choi Chang-gyu — Director, NH Investment & Securities

Summary

Choi Chang-gyu, Head of ETF Research at Mirae Asset Asset Management, joins the Stock Beginner Rescue Squad to explain ETF taxation and discuss AI power infrastructure investment. The episode covers capital gains and distribution taxes for domestic and U.S.-listed ETFs, active ETFs, covered call ETFs, pension accounts, and health insurance treatment. It then highlights the AI data-center power bottleneck and compares power equipment ETFs by their top-three holdings.

  • ETF taxation differs by underlying asset and listing location.
  • Korea-listed domestic equity ETFs are effectively tax-free on capital gains for non-major shareholders.
  • Covered call ETFs are pitched for income, with domestic-listed domestic covered call ETFs receiving favorable tax treatment.
  • High-income investors may prefer U.S.-listed U.S. ETFs, while small investors and pension accounts may prefer Korea-listed U.S. ETFs.
  • AI data-center demand is outpacing power equipment supply, creating a bottleneck.
  • LS Electric, Hyosung Heavy Industries, and HD Hyundai Electric are the key power equipment Big 3.
  • Power equipment ETF selection depends on top-three concentration; R AI Power Infrastructure offers a diversified small/mid-cap alternative.
  • Cable makers such as Daehan Electric Wire and Gaon Cable may benefit from grid upgrades.
Ideas
Choi Chang-gyu Director, NH Investment & Securities 4:13
Domestic equity ETFs are capital-gains tax-free.
Korea-listed domestic equity ETFs are tax-free on capital gains for non-major shareholders. Even domestic active ETFs that are labeled as dividend-income products are effectively not taxed on capital gains because the taxable base increment from domestic stock gains is zero, making them useful tax-efficient vehicles in taxable accounts.
Korea-listed domestic equity ETFs Korea-listed domestic active equity ETFs HIGH
Choi Chang-gyu Director, NH Investment & Securities 12:55
Tax wrapper choice depends on income level.
For U.S. equity exposure, the tax wrapper matters. Korea-listed U.S. ETFs are taxed at 15.4% on capital gains and distributions and can defer tax in pension accounts, making them better for small investors or those below the 20 million won financial-income threshold. U.S.-listed U.S. ETFs are taxed at 22% on capital gains with a 2.5 million won deduction and loss offset, and avoid Korea's comprehensive financial-income tax, so high earners with more than 20 million won of financial income may prefer them.
QQQ SCHD SPY VOO Korea-listed US ETFs HIGH
Choi Chang-gyu Director, NH Investment & Securities 25:30
Overseas covered call ETFs less tax-efficient.
Korea-listed overseas covered call ETFs such as S&P 500 Target Daily Covered Call and Nasdaq 100 Target Daily Covered Call execute options abroad, so the entire distribution is taxed at 15.4%. This makes them less attractive for tax-sensitive income investors than domestic-listed domestic covered call ETFs, where option premiums receive favorable tax treatment.
S&P 500 Target Daily Covered Call ETF Nasdaq 100 Target Daily Covered Call ETF MED
Choi Chang-gyu Director, NH Investment & Securities 26:13
Domestic covered call ETF offers tax-efficient income.
Domestic-listed domestic covered call ETFs are tax-efficient for income investors because only the stock dividend portion of distributions is subject to 15.4% tax; option premiums are tax-free in Korea, and distributions are not included in health insurance premium calculations. They lag in strong rallies but provide regular monthly income and some downside cushion; the speaker points to TIGER 200 Weekly Covered Call as an example.
TIGER 200 Weekly Covered Call ETF HIGH
Choi Chang-gyu Director, NH Investment & Securities 34:00
AI power equipment shortage benefits Big 3.
AI agent services are increasing data-center demand, but announced data-center construction and power plant progress are lagging because power equipment is in severe shortage. Hyosung Heavy Industries' order with delivery extending to 2031 illustrates the bottleneck; power equipment is order-driven with long lead times, making LS Electric, Hyosung Heavy Industries, and HD Hyundai Electric key beneficiaries.
010120.KS 298040.KS 267260.KS HIGH
Choi Chang-gyu Director, NH Investment & Securities 36:35
Big 3 weight drives AI power ETFs.
The names of AI power equipment ETFs are similar, so investors should compare actual holdings and top-three weights. T KOREA AI Power Equipment Top 3 Plus concentrates roughly 70% in the Big 3, while K AI Power Core Equipment and H Power Equipment Investment are around 60%; for exposure to the large-cap Big 3 leaders, the more concentrated vehicle is preferred.
T KOREA AI Power Equipment Top 3 Plus ETF HIGH
Choi Chang-gyu Director, NH Investment & Securities 36:35
Big 3 weight drives AI power ETFs.
The names of AI power equipment ETFs are similar, so investors should compare actual holdings and top-three weights. T KOREA AI Power Equipment Top 3 Plus concentrates roughly 70% in the Big 3, while K AI Power Core Equipment and H Power Equipment Investment are around 60%; for exposure to the large-cap Big 3 leaders, the more concentrated vehicle is preferred.
K AI Power Core Equipment ETF H Power Equipment Investment ETF HIGH
Choi Chang-gyu Director, NH Investment & Securities 38:17
Diversified small-cap AI power infrastructure bet.
R AI Power Infrastructure ETF takes a diversification approach with a much lower top-three weight, targeting smaller and mid-cap power infrastructure names such as Gaon Cable. This could outperform if market leadership broadens beyond the Big 3, and it suits investors who can tolerate higher volatility.
R AI Power Infrastructure ETF MED
Choi Chang-gyu Director, NH Investment & Securities 40:53
Grid upgrades benefit power cable makers.
The power bottleneck extends to cables. The U.S. grid is old and still uses 110V because it cannot handle 220V; any upgrade to 220V would require replacing all wires, benefiting Daehan Electric Wire and Gaon Cable. Gaon Cable is an LS Group affiliate and Korea's top mid/low-voltage cable maker, analogous to capillaries distributing power inside data centers while the Big 3 are the aorta.
001440.KS 000500.KS MED
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This 3PRO TV (삼프로TV) video, published April 29, 2026, features Choi Chang-gyu discussing Korea-listed domestic equity ETFs, Korea-listed domestic active equity ETFs, QQQ, SCHD, SPY, VOO, Korea-listed US ETFs, S&P 500 Target Daily Covered Call ETF, Nasdaq 100 Target Daily Covered Call ETF, TIGER 200 Weekly Covered Call ETF, 010120.KS, 298040.KS, 267260.KS, T KOREA AI Power Equipment Top 3 Plus ETF, K AI Power Core Equipment ETF, H Power Equipment Investment ETF, R AI Power Infrastructure ETF, 001440.KS, 000500.KS. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Choi Chang-gyu  · Tickers: Korea-listed domestic equity ETFs, Korea-listed domestic active equity ETFs, QQQ, SCHD, SPY, VOO, Korea-listed US ETFs, S&P 500 Target Daily Covered Call ETF, Nasdaq 100 Target Daily Covered Call ETF, TIGER 200 Weekly Covered Call ETF, 010120.KS, 298040.KS, 267260.KS, T KOREA AI Power Equipment Top 3 Plus ETF, K AI Power Core Equipment ETF, H Power Equipment Investment ETF, R AI Power Infrastructure ETF, 001440.KS, 000500.KS