Now Is the Time to Show: The Picture Naver Is Drawing in the AI Era

Summary

Lee Hak-joo, Deputy Manager at Hana Securities Wonju Branch, discusses how investors should navigate the current market by tuning out macro noise and focusing on AI themes. He reaffirms Samsung Electronics and SK Hynix as indispensable core holdings, supported by continued global AI capex and upcoming catalysts. He then introduces a new thesis on Naver, arguing that the company is shifting from a B2C advertising model to a B2B AI infrastructure play with Nvidia’s backing, creating a re‑rating opportunity at current levels.

• Macro concerns around FOMC and interest rates are noise; focus on AI-driven stock themes.
• Samsung Electronics and SK Hynix remain must-own core positions, with catalysts like SK Hynix ADR listing and MSCI inclusion ahead.
• Big tech AI investment and Buffett’s participation in Google’s AI issuance confirm AI spending will persist regardless of rate moves.
• Naver is pivoting from B2C to B2B AI, leveraging its Nvidia partnership and massive Korean user data.
• A historic volume spike in Naver signals renewed market attention and potential price floor.
• Naver’s B2B AI revenue roadmap projects significant long-term growth, providing a clear re‑rating catalyst.
• Korea’s unique sovereign AI position and the Middle East opportunity give Naver a geopolitical edge.
• Portfolio strategy: build a 30-50% base in Samsung Electronics and SK Hynix, then add Naver and other alpha names for upside.