Ideas
Liquidity supports Korean equities through Q1
Kim argues the Korean market is a liquidity-driven market, with abundant deposits and sidelined cash after real estate and credit channels became less attractive. Unless the US hikes rates or domestic policy turns adverse, dips of around 2% should be bought rather than sold, and this stance is favorable through the Lunar New Year and first quarter.
Samsung and SK hynix anchor market
In a KOSPI making new highs, Samsung Electronics and SK hynix are core constants; when the two leaders rest, second-line stocks can rise, but the semiconductor leaders anchor the rally and should remain core holdings.
Korean semiconductor upcycle has room
Kim notes Samsung Electronics and SK hynix now represent roughly 38% of KOSPI market cap and are driving a semiconductor-led inflation cycle. Memory price inflation could eventually hit PC and phone demand and boomerang, but that risk is unlikely this year, so investors can enjoy the semiconductor upcycle for now.
Morgan Stanley Samsung target too low
Kim criticizes Morgan Stanley's 210,000 won Samsung target as inconsistent: it implies only about 5.6x next-year earnings even though Morgan Stanley forecasts strong profit growth. If Samsung earns around 220 trillion won net profit and deserves a higher multiple, the stock could be worth 280,000 won or more.
Solar price surge aids Hanwha Solutions
Cha highlights Hanwha Solutions as a reverse beneficiary of a sharp rise in Chinese solar panel prices, with Musk's space-solar talk adding optional alpha. He cautions the space narrative is premature, so the setup is worth monitoring rather than chasing.
KEPCO E&C benefits from nuclear catalysts
Cha points to a report raising KEPCO E&C's target price by 85% to 185,000 won and says investors can expect more from the nuclear services name. Catalysts include US-Korea nuclear cooperation, the Masga project, and US environmental review exemptions that improve nuclear project economics.
Chinese tourists support casino stocks
Cha says casino names Paradise and GKL moved on brokerage reports and travel-related catalysts: China-Japan travel restrictions, an expected 30% increase in Chinese visitors to Korea, the upcoming Spring Festival, and a more than 20% rise in January drop spend.
US power exposure lifts transformer makers
Kim argues AI and data-center power demands, plus Intel's comments about thermal management and tight power, favor transformer and electrical equipment makers. US exposure is the key edge: LS Electric has over 60% US exposure and has run, Hyosung Heavy Industries has good earnings but conservative guidance, and HD Hyundai Electric can still see margin expansion.
Hyundai E&C has more nuclear upside
Kim says the US plans about ten reactors over ten years, and reports suggest Hyundai E&C could win about four. Because it is still valued as a construction company, nuclear re-rating could give it more upside than Doosan Enerbility, which is already near analysts' target.
Hyundai E&C has more nuclear upside
Kim says the US plans about ten reactors over ten years, and reports suggest Hyundai E&C could win about four. Because it is still valued as a construction company, nuclear re-rating could give it more upside than Doosan Enerbility, which is already near analysts' target.
KOSDAQ IT equipment is the alternative
In his final strategy, Cha says new money should focus on earnings-certain sectors rather than pure expectation names, compressing the market into five preferred areas: semiconductors, shipbuilding, defense, power infrastructure instead of nuclear, and autos.
ISC can catch up on data centers
Kim says Leeno Industrial is a high-quality high-margin name, but ISC has about ten times more data-center exposure and can catch up quickly. However, at the current price the catch-up trade is not easy, so it is a monitorable setup.
Do not chase Hanwha Systems valuation
Kim warns Hanwha Systems has moved beyond analysts' coverage range and is not cheap. Its Philly Shipyard stake is loss-making, so valuation relies on PSR rather than earnings; he would not chase the stock at the current level.
Philly Shipyard burden pressures Hanwha Systems
Cha adds that Hanwha Systems' Philly Shipyard requires more than $5 billion of investment and creates working-capital burden, with no profit contribution until at least the second half. He advises trimming on rallies and controlling excitement.
APR already priced in good news
Cha says APR has already risen about fivefold and strong earnings plus higher target prices are largely priced in. It is a 'chicken eaten' stock at a high level with no fresh strong catalyst, so new buyers should not chase it.
Large-cap cosmetics win from Chinese tourists
Cha favors large-cap cosmetics over smaller names ahead of the Spring Festival: Chinese tourists tend to buy branded, higher-priced products, women rarely switch cosmetics, and de-China expansion into the US and Southeast Asia is helping. AmorePacific's chart has recently rebounded more strongly than smaller peers.
Suppressed re-rating names may catch up
Kim says Hyundai Motor and Hanwha Aerospace were suppressed while Samsung Electronics rallied alone. Both have re-rating stories that can attract capital as investors diversify from Samsung into lagging large caps.
This 3PRO TV (삼프로TV) video, published February 04, 2026,
features Kim Jang-yeol, Cha Young-joo
discussing EWY, 005930.KS, 000660.KS, Korean semiconductor sector, 009830.KS, 052690.KS, 034230.KS, 114090.KS, 010120.KS, 298040.KS, 267260.KS, 000720.KS, 034020.KS, Korean shipbuilding sector, Korean defense sector, Korean Power Infrastructure Sector, CARZ, 095340.KQ, 272210.KS, 278470.KS, 090430.KS, 005380.KS, 012450.KS.
17 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Kim Jang-yeol,
Cha Young-joo
· Tickers:
EWY,
005930.KS,
000660.KS,
Korean semiconductor sector,
009830.KS,
052690.KS,
034230.KS,
114090.KS,
010120.KS,
298040.KS,
267260.KS,
000720.KS,
034020.KS,
Korean shipbuilding sector,
Korean defense sector,
Korean Power Infrastructure Sector,
CARZ,
095340.KQ,
272210.KS,
278470.KS,
090430.KS,
005380.KS,
012450.KS
