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South Korea's Recovery Momentum is World's Best But Why Are Stock Prices Like This? | Park Jun-woo, Hana Securities Research Center Research Fellow

South Korea's Recovery Momentum is World's Best" But Why Are Stock Prices Like This? | Park Jun-woo, Hana Securities Research Center Research Fellow [Double Crew]
Watch on YouTube ↗  |  July 14, 2026 at 01:54  |  14:51  |  3PRO TV (삼프로TV)
Speakers
Park Jun-woo — Research Fellow, Hana Securities Research Center

Summary

Park Jun-woo argues that Korean stock weakness is a semiconductor rotation, not a macro shock. He sees US capex staying strong and warns that US 10Y yields rising to 4.75% could threaten equities. He expects Korean bonds to remain under pressure from continued BOK rate hikes.

  • KOSPI decline driven by semiconductor selloff, not broad macro distress
  • US corporate capex plans intact, supported by AI and security-focused sectors
  • Defense and energy industries must keep investing due to geopolitical risks
  • Korean export growth broadening beyond semiconductors (20% y/y ex-semiconductors)
  • Korean inflation and growth push bond yields higher, expect further BOK hikes
  • US 10-year yield threshold at 4.75% could trigger broader equity weakness
  • S&P 500 at all-time highs, not yet pricing rate risks
Ideas
Park Jun-woo Research Fellow, Hana Securities Research Center 3:44
Buy Korean semis on structural AI capex
Structural belief in AI and semiconductor demand keeps corporate investment steady despite short-term headwinds like oil price spikes or stock corrections, supporting the long-term outlook for Korean chipmakers.
005930.KS 000660.KS MED
Park Jun-woo Research Fellow, Hana Securities Research Center 4:04
Long defense and energy on forced capex
Geopolitical risks and heightened security awareness are forcing sustained investment in defense and energy industries, creating a structural capex tailwind for those sectors.
ITA XLE MED
Park Jun-woo Research Fellow, Hana Securities Research Center 11:29
Watch 4.75% US 10Y for equity risk
The US 10-year Treasury yield reaching 4.75% is a critical threshold that, if breached, could trigger a broad-based decline in risk assets such as the S&P 500, even though strong fundamentals have kept equities resilient so far.
SPY HIGH
Park Jun-woo Research Fellow, Hana Securities Research Center 12:06
Short US 10Y as yields climb
US Treasury yields have more room to rise as economic strength and inflation keep upward pressure on rates, and the negative impact on risk assets has not yet materialized, meaning further yield increases are likely.
U.S. 10-Year Treasury Note MED
Park Jun-woo Research Fellow, Hana Securities Research Center 13:45
Avoid Korean bonds on tightening cycle
Continued Bank of Korea rate hikes and rising growth/inflation expectations will push Korean government bond yields higher, making Korean duration unattractive.
South Korean 10-Year Government Bond MED
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This 3PRO TV (삼프로TV) video, published July 14, 2026, features Park Jun-woo discussing 005930.KS, 000660.KS, ITA, XLE, SPY, U.S. 10-Year Treasury Note, South Korean 10-Year Government Bond. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Jun-woo  · Tickers: 005930.KS, 000660.KS, ITA, XLE, SPY, U.S. 10-Year Treasury Note, South Korean 10-Year Government Bond