Samsung Electronics, SK Hynix 2x Leveraged ETF... Ultimately Ruined the Korean Stock Market: 'Worst-Case Scenario the Market Fears' | CEO Lee Gwon-hee

Summary

Lee Gwon-hee, CEO of Wizwave, analyzes a weak Korean market where Samsung's record earnings fail to lift sentiment. He warns that KOSPI is setting up a potential head-and-shoulders breakdown and that KOSDAQ has been structurally damaged by the 2x leveraged ETF listing. Near term, he expects a bounce into options expiry driven by foreign put selling, and he flags Hybe's approaching resistance breakout.

• Samsung Electronics posted record operating profit exceeding NVIDIA and Apple, yet shares fell over 3%, reflecting ongoing cyclical stigma on memory stocks.
• KOSPI is struggling below 8,100; failure to reclaim that level could form a head-and-shoulders pattern and trigger further selling.
• Foreign investors sold large amounts of puts; Lee expects them to push the market higher into Thursday's options expiry to capture the premium.
• KOSDAQ's natural snap-back recovery has been destroyed by the May 27 listing of a 2x leveraged ETF, which Lee calls the year's worst policy mistake.
• The 2x ETF has made rebounds weaker and the market less attractive, structurally damaging retail participation.
• Semiconductor equipment and material small caps are showing relative resilience inside a weak tape.
• Hyve bounced 3%, nearing key resistance at 240,000–250,000 won; a breakout is needed for a stronger rally.
• Lee warns that single-stock leveraged ETFs are extremely risky, potentially more dangerous than margin trading, and should not be accumulated blindly.