Ideas
Korea equities can reach 6,500-6,700
US-Europe geopolitical conflict and 20-30% tariffs are not enough to change Korea's fundamental path. Korea is aligned with the US and has semiconductors, so it should continue to outperform; Samsung's memory price hikes show the earnings cycle is intact. If Samsung Electronics and SK hynix double, KOSPI can reach 6,500-6,700, with 5,500 as a reasonable earlier target.
Samsung and SK hynix double
Samsung notified customers of memory price increases of up to 80%, showing strong pricing power. Even 20-30% semiconductor tariffs are not a threat, and memory margins and earnings are set to rise. Samsung Electronics and SK hynix should not be sold and have more upside than Hyundai's robot-driven target.
Large-cap Korean rally has more room
The rally is still led by large caps and has not ended. Any geopolitical or tariff-driven shakeout is a chance to add previously expensive large-cap leaders, and the large-cap-led market is likely to continue.
Buy Hyundai and Kia on dips
Foreigners have sold Hyundai, but individual buying and positive foreign research comparing Hyundai's Atlas and Boston Dynamics exposure to Tesla suggest the Korea discount is easing and AI/robotics exposure is being re-rated. If Hyundai and Kia pull back, he views it positively.
Securities brokers benefit from record volume
Trading value hit record levels of about 57 trillion won combined, and individuals are rushing to open brokerage accounts. Brokerages earn more fees and margin interest, with Kiwoom Securities as a representative beneficiary.
Korean semiconductors remain in shortage cycle
Semiconductor earnings are strong, supply shortages are severe, and demand keeps rising as AI servers add HBM and ICMS while general server and CPU demand returns after a long replacement cycle. Memory makers are cutting consumer DRAM supply, so the semiconductor upcycle is not about to turn; investors without semiconductor exposure should fill it.
Solid-state battery theme is early
Xpeng's humanoid robot using solid-state batteries sparked a rally in Korean solid-state battery names. Samsung SDI is the Korean leader, and materials names such as ISU Specialty Chemical, Lotte Energy Materials, and Lake Materials surged. The direction is real, but robot battery volumes are small, commercialization is years away, and the theme can correct like glass substrates, so watch rather than chase.
Prefer upstream energy and minerals
Rather than concentrating on a specific battery maker, he prefers upstream energy and minerals because growing EV, robot, and AI demand ultimately increases energy use and mineral needs, offering a lower-risk way to play the theme.
SSD capacitor theme worth watching
He is looking for NAND and SSD themes. Capacitors are needed in SSDs to provide temporary power and prevent data errors when power is interrupted. Samwha Electric, an SSD-related capacitor supplier, surged, but the theme needs confirmation from NAND earnings before becoming a main theme.
Avoid construction, favor nuclear construction
Korean construction is unattractive on a pure construction basis because real estate and PF debt problems in lower-tier developers are unresolved. However, construction linked to nuclear power has a different demand driver and should be viewed separately.
Avoid construction, favor nuclear construction
Korean construction is unattractive on a pure construction basis because real estate and PF debt problems in lower-tier developers are unresolved. However, construction linked to nuclear power has a different demand driver and should be viewed separately.
Korean banks lose deposits to brokers
The strong stock market is pulling deposits out of banks into brokerage accounts, while loan growth is weak, so banks are less attractive than securities firms even if financial stocks are grouped together. Only a commercial-law revision could improve banks and insurers.
Hyundai robot valuation is near-term stretched
Recent 800k-850k won Hyundai target prices are too aggressive because they embed very optimistic Boston Dynamics assumptions: 10 million humanoid robots by 2035 and 40% share. Near-term upside to 700k is not easy, but if Boston Dynamics lists in the US and the market values it at 100-200 trillion won, Hyundai could re-rate.
Korean franchise stocks remain structurally risky
Korean franchise headquarters rely on hidden margins from mandatory supplies, and the Pizza Hut differential franchise fee ruling opens the door to more lawsuits. Listed franchise companies also face conflict between shareholders and franchisees, owner risk, short-lived food trends, and a small domestic market, so long-term investing is structurally risky.
Battery rally is liquidity-driven, watch
The battery rally is driven by liquidity flowing into robot, solid-state, NCM, ESS, and lithium themes rather than current earnings. NCM and solid-state technology give Korean battery makers a narrative edge, but valuation is not yet supportive, so it is a trading theme to watch.
K-beauty and beauty devices rebound
Korean cosmetics and beauty-device stocks are rebounding on Walmart's K-beauty sourcing delegation and strong fourth-quarter and 2026 earnings, while valuations remain attractive. He names APR, Cosmecca Korea, Kolmar Korea, PharmaResearch, and Silicon2 as beneficiaries.
KOSPI 5000 valuation still not burdensome
KOSPI at 5,000 is not expensive: forward PER is about 10.7x versus a 10-year average of 10.5x and a band top above 13x, and earnings estimates are not falling. Liquidity is abundant with customer deposits near 95.5 trillion won, so the market can rise further, though a short-term breather is possible.
Memory semis remain in supercycle
Samsung's memory price increase of up to 80%, DRAM and NAND TAM growth, CPU shortages, and the BofA view of a semiconductor rally into 2027 all support the memory supercycle. Samsung Electronics is gaining HBM share and SK hynix remains a leader, so Korean memory names should continue to do well.
PharmaResearch earnings can re-rate
PharmaResearch is exiting a bottom with expected fourth-quarter revenue around 45-50 billion won, which could be a record quarter, and 2026 revenue around 700 billion won. If the numbers appear, the stock looks undervalued.
Lithium is shifting to shortage
Lithium prices are rebounding and the market may shift from oversupply to shortage as China controls supply and demand improves. This supports lithium-related equities and battery recycling.
Silicon2 may rest after rebound
Silicon2's fourth-quarter operating profit around 40 billion won looks strong excluding a 13.3 billion won bonus, and North America, Middle East, and Europe growth remains positive. The short-term rebound has been large, so it may rest, but the earnings backdrop is solid.
Alteogen rebound needs time
Alteogen fell too much on royalty disappointment. CLSA maintains a 620k won target, a CMS J-code for Keytruda SC supports US commercialization, and the second-largest shareholder says there is no stake sale and more licensing deals are in due diligence. Institutional selling may take time to heal, so it is a watch.
Korean steel earnings are turning around
China's steel production cuts and structural reform are tightening supply, supporting a first-quarter earnings turnaround for Korean steel makers such as Hyundai Steel, Dongkuk Steel, POSCO Steelion, and SeAH.
Brokers win from record trading volume
KOSPI above 5,000 and average daily trading value above 35 trillion won drive brokerage fee and margin-interest income. Large brokers with high market share, including Kiwoom Securities and Mirae Asset Securities, benefit most.
Hotels benefit from foreign visitor demand
Foreign visitor arrivals are expected to reach about 21 million in 2026, and hotel supply has been constrained for years, allowing room-rate-led RevPAR growth of 3-5%. Hotel and resort names are beneficiaries.
Ceasefire hopes lift construction machinery
Trump's comments on a Russia-Ukraine ceasefire and reconstruction raised hopes for construction machinery demand, while defense stocks weakened. The outcome is uncertain, so it is a news-flow watch.
Robotics trades on Boston Dynamics news
Boston Dynamics' US listing process and Hyundai's physical AI expectations keep robotics and smart-factory stocks moving with news flow. They trade together and remain a momentum watch.
US equities trend up before midterms
US GDP growth is running at 3-4%, liquidity is ample, and OBBBA tax cuts plus capex expensing support earnings. Historical midterm patterns and Trump's desire to support markets before the election should keep US equities biased upward at least until the midterms.
US small caps benefit from tax cuts
OBBBA tax cuts and immediate capex expensing benefit small and mid-caps more than mega-cap tech, especially after they were squeezed by high rates. He keeps M7 exposure low and invests through ETFs in small and mid-caps as a diversified way to earn double-digit returns.
US industrials and materials outperform
The same tax and capex incentives, deregulation, and onshoring trends favor US industrials and materials. These are among the six themes he holds and have started to outperform.
US defense remains a portfolio theme
US defense is one of his portfolio themes, supported by government spending and geopolitical tensions. He keeps a diversified allocation rather than only mega-cap AI.
US REITs benefit from housing policy
Trump administration policies to buy MBS and restrict institutional purchases of single-family homes should lower mortgage rates and improve affordability, while the US still has a large housing supply shortage. He holds real estate and REITs as a theme.
Venezuelan oil supply pressures crude lower
Venezuelan crude supply returning to the market, including medium crude suited to older US refineries, should pressure oil prices lower. Trump also wants gasoline below $2, supporting a bearish oil stance.
AI growth slows but does not collapse
He is not bearish on AI; the uptrend may slow but not collapse. Because M7 and AI leadership has run far and volatility is normal, he avoids concentrating only in M7 and keeps broad diversification.
Private credit poses air-pocket risk
The private credit and direct lending market is expanding rapidly with looser underwriting than banks, creating risk of air-pocket blowups even if the broad tide continues. Direct exposures are dangerous.
This 3PRO TV (삼프로TV) video, published January 22, 2026,
features Kim Jang-yeol, Jang Woo-jin, Han Ji-won, Park Geun-hyung, Lee Chun-kang
discussing EWY, 005930.KS, 000660.KS, KOSPI large-cap stocks, 005380.KS, 000270.KS, 039490.KS, Korean securities sector, Korean semiconductor sector, 006400.KS, 457190.KS, 020150.KS, 281740.KQ, GUNR, 009470.KS, SSD capacitor suppliers, Korean construction sector, Nuclear-related construction stocks, KBE, Korean franchise restaurant sector, 339770.KS, 373220.KS, KARS, Korean cosmetics and beauty devices sector, 278470.KS, 241710.KQ, 161890.KS, Korean memory semiconductor sector, 214450.KQ, LITHIUM, 257720.KQ, 196170.KQ, Korean Steel Sector, 004020.KS, 001230.KS, 058430.KS, 003030.KS, 006800.KS, Korean hotel and resort sector, 032350.KS, 001740.KS, Construction machinery sector, Korean robotics and smart factory sector, SPY, US small and mid-cap equities, XLI, XLB, ITA, VNQ, US residential real estate, WTI, M7 Mega-Cap Tech, AIQ, Private credit and direct lending.
35 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Kim Jang-yeol,
Jang Woo-jin,
Han Ji-won,
Park Geun-hyung,
Lee Chun-kang
· Tickers:
EWY,
005930.KS,
000660.KS,
KOSPI large-cap stocks,
005380.KS,
000270.KS,
039490.KS,
Korean securities sector,
Korean semiconductor sector,
006400.KS,
457190.KS,
020150.KS,
281740.KQ,
GUNR,
009470.KS,
SSD capacitor suppliers,
Korean construction sector,
Nuclear-related construction stocks,
KBE,
Korean franchise restaurant sector,
339770.KS,
373220.KS,
KARS,
Korean cosmetics and beauty devices sector,
278470.KS,
241710.KQ,
161890.KS,
Korean memory semiconductor sector,
214450.KQ,
LITHIUM,
257720.KQ,
196170.KQ,
Korean Steel Sector,
004020.KS,
001230.KS,
058430.KS,
003030.KS,
006800.KS,
Korean hotel and resort sector,
032350.KS,
001740.KS,
Construction machinery sector,
Korean robotics and smart factory sector,
SPY,
US small and mid-cap equities,
XLI,
XLB,
ITA,
VNQ,
US residential real estate,
WTI,
M7 Mega-Cap Tech,
AIQ,
Private credit and direct lending
