Korean Stock Market Big Positive Catalyst... Bull Market Starts When 'This' Is Confirmed / Is Interest Rate Hike Fear the Last Buying Opportunity? | Unistory Asset Management Kim Jang-yeol Research Center Head

Summary

Kim Jang-yeol, Research Center Head at Unistory Asset Management, argues that a large AI infrastructure catalyst is now confirmed for Korean memory names, led by Samsung Electronics and SK Hynix, and that any FOMC rate-hike dip is likely a last buying opportunity. He sees Broadcom and NVIDIA AI guidance as proof of AI compute demand and flags rapid won strength as a key near-term earnings risk. Shareholder return policies are viewed as slow-moving and not the main foreign inflow catalyst.

• OpenAI/Anthropic projected $600-700bn AI infrastructure demand through 2028 supports memory and AI compute.
• Broadcom/NVIDIA AI forecasts and Google capex underpin the AI hardware cycle.
• Samsung Electronics and SK Hynix are seen as cheap versus Micron with memory shortage and HBM price hikes ahead.
• An upcoming FOMC rate hike, if preemptive, may create the last dip-buying opportunity in AI/memory names.
• Rapid won strength is flagged as a 10-15% earnings estimate risk for Korean memory.
• Shareholder return policy is positive but too slow to drive foreign inflows near term.