AI Summit, 1,400 Trillion Won Semiconductor Cooperation Announced... The Real Reason Why Good News Isn't Working / What Happens If NVIDIA Becomes Naver's 3rd Largest Shareholder | Lee Kwon-hee CEO

Summary

Lee Kwon-hee, CEO of Wizwave, analyzes the recent AI Summit and massive semiconductor cooperation announcements totaling 1,400 trillion won, explaining why the good news has not fully lifted stocks. He presents a strong bullish case for Korean memory chip makers using a free cash flow framework, highlights Naver's transformative Nvidia-backed investment, and identifies specific winners in Samsung Heavy Industries, Samsung SDS, SK Telecom, and a HBM inspection equipment maker, while cautioning that market sentiment remains fragile.

• The AI Summit in San Francisco triggered huge investment pledges from Samsung, SK hynix, Naver and others, but stocks are held back by data center spending doubts and short-selling pressure.
• Lee argues memory semiconductors are the best free cash flow generators and should be the core of tech allocation now.
• Naver is seen as deeply undervalued following a 15 trillion won funding package from Nvidia and Brookfield, coupled with regulatory relief for its Dunamu merger.
• Samsung Heavy Industries stands out as the cheapest Korean shipbuilder, driven by FLNG and floating data center prospects.
• Samsung SDS and SK Telecom are attractive medium-term plays on the AI data center theme across Asia.
• A specific HBM DI inspection equipment maker is experiencing undeniable earnings growth, making it a comfortable buy.
• Improved macro conditions (lower oil, stable FX, dovish FOMC expectations) are positive but not enough to override sector-level caution in the short term.