SK's #1 market cap is overvalued? Rather, Samsung Electronics moves more

SK's #1 is overvalued...? Rather, Samsung moves more | Baek In-jae, Deputy Head of Hana Securities Sales Department Financial Center [Double Crew]

Watch on YouTube ↗ | June 23, 2026 at 02:24 | 20:16 | 3PRO TV (삼프로TV)

Speakers

Baek In-jae — Deputy Center Director, Hana Securities

Summary

After SK hynix briefly overtook Samsung Electronics in common-share market cap, Hana Securities’ Baek In-jae argues Samsung will counterattack with shareholder-friendly measures, making its common shares attractive. He also outlines a buy-on-dip strategy for top Korean semiconductors around Micron’s earnings, highlights Samsung Electro-Mechanics common and deeply discounted preferreds, and notes a cautious equity-method play on Samsung Life and Samsung C&T.

SK hynix surpassed Samsung Electronics in common-share market cap, prompting a defensive PR response from Samsung.
Baek In-jae expects Samsung to announce share-boosting policies (dividends, buybacks) and believes the stock is poised to catch up.
Historically, Micron earnings have caused Korean semiconductor stocks to dip, presenting a reliable buying opportunity.
Samsung Electro-Mechanics common is a buy on dips due to strong AI server MLCC demand and repeated target-price upgrades.
Samsung Electro-Mechanics preferred shares offer a wide discount, potential for institutional buying, and a passive ETF inclusion catalyst.
Samsung Life and Samsung C&T benefit from equity-method gains linked to Samsung Electronics, but the main stock remains the core focus.
The overall market remains supported by strong earnings, with semiconductor leaders driving the bull trend.

Ideas

Baek In-jae Deputy Center Director, Hana Securities 2:26

Samsung will counterattack, buy common now.

Samsung Electronics was overtaken by SK hynix in market cap on a common-share basis, triggering a defensive PR response. Samsung will not stand still; it is likely to soon announce shareholder return policies such as dividends or buybacks, and other stock-boosting measures to reclaim the top spot. Valuation-wise, Samsung is cheaper than SK hynix, adding upside potential.

Baek In-jae Deputy Center Director, Hana Securities 5:40

Samsung Life, C&T benefit from Samsung Electronics.

Samsung Life and Samsung C&T hold direct stakes in Samsung Electronics. As Samsung Electronics' stock price rises, these affiliates benefit from equity-method gains, and this play is currently active. However, caution is needed because equity income does not always fully flow through to stock prices, and the focus will eventually shift back to the parent company.

Baek In-jae Deputy Center Director, Hana Securities 13:53

Buy Samsung, SK hynix after Micron dip.

Micron's upcoming earnings have historically triggered moves in top Korean semiconductor stocks. In three of the last four instances, these stocks dropped 10% or more post-earnings, but each decline was a buying opportunity. If history repeats and a dip occurs, it should be viewed as a can't-miss buying window. If no dip occurs, existing positions should be held.

Baek In-jae Deputy Center Director, Hana Securities 17:13

Buy Samsung Electro-Mechanics on dips.

Samsung Electro-Mechanics is benefiting from AI server MLCC demand growing over 30% annually. Meritz Securities, a top-tier analyst on the stock, has repeatedly raised its target price, now at 280,000 KRW. Buy on pullbacks, continuing to accumulate.

Baek In-jae Deputy Center Director, Hana Securities 17:22

Buy Samsung Electro-Mechanics preferred.

Samsung Electro-Mechanics preferred shares trade at an excessively wide discount to common (2.34x ratio vs typical 30-35% discount). With the common stock having surged rapidly, institutional investors may prefer the cheaper preferred shares. Additionally, if the preferred market cap exceeds 5 trillion won, passive ETF inclusion will create a self-reinforcing catalyst.

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This 3PRO TV (삼프로TV) video, published June 23, 2026, features Baek In-jae discussing 005930.KS, 032830.KS, 028260.KS, 000660.KS, 009150.KS, 009155.KS. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Baek In-jae · Tickers: 005930.KS, 032830.KS, 028260.KS, 000660.KS, 009150.KS, 009155.KS