Ideas
Korean biotech benefits from policy exits
The National Growth Fund and upcoming retail growth fund are focused on bio, AI, and healthcare, and their likely exits are KOSDAQ listings; KOSDAQ's largest names are now profitable bio/healthcare companies, so policy, index flow, and event catalysts favor the sector.
KOSDAQ outperforms into April on policy flows
KOSPI's advance to 5,000 is mainly semiconductor EPS plus policy-driven dividends and index liquidity; non-semiconductor KOSPI valuations are already stretched. With policy shifting toward KOSDAQ promotion, a healthier KOSDAQ top tier, and potential institutional inflows and short covering, the KOSDAQ can lead or outperform until around April, especially its large biotech, battery, and other alpha names.
Samsung wins memory on capacity advantage
HBM versus conventional DRAM distinction matters less because HBM/DDR5 and DDR4 prices converge within about a month; capacity is the key variable, and Samsung has far more DRAM, LPDDR, and GDDR capacity than SK hynix. March IT product launches may reveal DRAM-driven cost inflation, prompting semiconductor rotation, and Samsung is the preferred capacity name over SK hynix.
Korean dividend stocks benefit from policy
Governance and tax policies from 2025-2026, including commercial-law changes, major-shareholder thresholds, separate dividend taxation, and treasury-share cancellation, should push dividends higher. Named Samsung Life, KEPCO, SK, Hanwha, and Hana Financial have around 14.9% average annual dividend growth through 2027, and yield-seeking money from bonds and real estate may flow into dividend equities.
Low-PBR stocks forced to lift value
The proposed inheritance-tax PBR floor of 0.8x means owners of companies trading below that level face a higher tax base and may be pressured to lift share prices or raise dividends; Hanwha Life, at around 0.2x PBR, is an example of a stock that could be re-rated by this governance and tax catalyst.
Hyundai Motor now expensive after robot re-rating
Hyundai Motor's P/E was historically a cheap legacy-auto multiple, but robot momentum has re-rated it to the most expensive legacy automaker; incremental robot upside now looks better in lower-level robot names.
Lower-level Korean robotics names to outperform
As Hyundai Motor's robot-related re-rating makes it expensive, the incremental opportunity shifts to lower-level Korean robotics names; recent trading shows leadership rotating within the robot theme, and Korea has gained confidence in its robot supply chain.
Batteries favored on robots and midterms
Secondary battery names can benefit from political odds shifting ahead of US midterms, from robot form factors that require batteries, and from reported Samsung SDI content in humanoid robots such as Atlas. Large caps LG Energy Solution and Samsung SDI can rise near term, then battery materials become the next rotation target.
First Solar, healthcare benefit from midterms
Trump's approval rating is falling and Democratic midterm odds are rising; in Trump's first term, when approval fell below 40%, First Solar and healthcare outperformed, and the market is beginning to reflect this now.
High short-interest KOSDAQ names face squeeze
The KOSDAQ rally is a supply-driven move, and high short interest is a reverse tailwind; if pension funds and other institutions enter as policy support improves, short covering could become explosive, so watch KOSDAQ names with high short balances.
KOSDAQ chip materials offer rotation play
During the previous KOSPI consolidation at 3,000 and 4,000, KOSDAQ semiconductor equipment and materials names such as Wonik IPS were among the biggest gainers. With KOSPI likely to consolidate around 5,000 and KOSDAQ policy support improving, this is a likely rotation target.
S&P 500 weak in midterm August-September
In US midterm-election years since 1980, May/June and August/September were weak, especially when campaigns and TV debates intensified; with added political volatility in 2026, investors should keep lighter or delayed positions in August-September.
Active ETF flows lift ABL and Celltrion
The Alteogen royalty controversy forced active ETFs to cut Alteogen and increase ABL Bio and Celltrion; ABL Bio became a large weight in some ETFs and receives forced buying as bio inflows accelerate.
Memory and NAND benefit as monopolies diversify
AI semiconductor monopolies in HBM, foundry, and accelerators are likely to diversify; volume becomes the key competitive metric. As Chinese memory suppliers expand and large tech IPOs dilute tech leadership, memory and NAND producers with capacity should earn more, and NAND has already shown early-year strength.
Tech IPOs may dilute leadership
Large 2026 tech IPOs such as SpaceX, OpenAI, and Anthropic could be massive and absorb tech-related liquidity, so leadership in US tech may wobble even if the broad market does not peak.
Intel IDM model faces structural crisis
Intel's IDM model is structurally challenged in a cycle where hyper-scale customers concentrate spending on leading-edge capacity; Intel must spread investment and has not given strong guidance despite government support, making it vulnerable after earnings.
Holding companies must raise dividends
Inheritance-tax and governance changes are forcing controlling families to raise dividends; HD Hyundai and Hyundai Motor shares have risen before succession, increasing inheritance-tax liabilities and leaving dividends as the main funding source, so holding-company dividends should rise except perhaps at SK.
Korean skincare tourism stocks benefit from China
Chinese tourists to Japan have halved and may return to Korea, helped by relative currency attractiveness; their itinerary centers on Seongsu, Hongdae, and dermatology or medical procedures, 61% of which are skin-related, so KOSDAQ skin-care and medical aesthetic device names are the best target.
This 3PRO TV (삼프로TV) video, published January 26, 2026,
features Lee Hyuk-jin
discussing Korean Biotech/Healthcare Sector, KOSDAQ, 005930.KS, 032830.KS, 015760.KS, 034730.KS, 000880.KS, 086790.KS, Korean low-PBR governance reform stocks, 088350.KS, 005380.KS, Korean robotics sector, Korean secondary battery sector, 373220.KS, 006400.KS, Korean battery materials, FSLR, XLV, KOSDAQ high short-interest stocks, Korean semiconductor equipment/materials, SPY, 298380.KQ, 068270.KS, Memory/NAND semiconductors, XLK, INTC, Korean holding companies, Korean tourism sector, KOSDAQ dermatology/medical aesthetic device stocks.
18 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Hyuk-jin
· Tickers:
Korean Biotech/Healthcare Sector,
KOSDAQ,
005930.KS,
032830.KS,
015760.KS,
034730.KS,
000880.KS,
086790.KS,
Korean low-PBR governance reform stocks,
088350.KS,
005380.KS,
Korean robotics sector,
Korean secondary battery sector,
373220.KS,
006400.KS,
Korean battery materials,
FSLR,
XLV,
KOSDAQ high short-interest stocks,
Korean semiconductor equipment/materials,
SPY,
298380.KQ,
068270.KS,
Memory/NAND semiconductors,
XLK,
INTC,
Korean holding companies,
Korean tourism sector,
KOSDAQ dermatology/medical aesthetic device stocks
