Polarized Market Created by Stock-by-Stock Temperature Gaps: Focus on Leaders and Rotation, Not Chasing - Lee Jae-gyu, SK Securities PB Deputy Manager

Watch on YouTube ↗  |  May 07, 2026 at 11:01  |  38:31  |  3PRO TV (삼프로TV)
Speakers

Summary

Lee Jae-gyu of SK Securities analyzes the polarized Korean market, emphasizing semiconductors as the core holding while advocating rotation into shipbuilding, airlines, securities, and KOSDAQ. He provides specific stock picks and advises buying on pullbacks, with cautious watch on defense and biotech.

  • Semiconductors (Samsung Electronics, SK hynix) remain the leading sector; buy on dips.
  • Samsung C&T is undervalued due to a large NAV discount that may narrow.
  • HD Hyundai Heavy Industries is experiencing an earnings turnaround from high-margin orders.
  • Korean Air benefits from falling oil prices and strong travel demand.
  • Securities stocks are attractive on pullbacks given record trading volumes.
  • The KOSDAQ index is expected to rise on government fund inflows starting May 22.
  • Defense stocks offer long-term buying opportunities after pullbacks.
  • He watches Alteogen for potential stabilization based on licensing credibility.
Trade Ideas
Lee Jae-kyu PB Deputy Manager, SK Securities 0:45
Semiconductors lead; buy dips for AI.
Semiconductors (Samsung Electronics and SK hynix) remain the leading sector driven by AI demand for memory/HBM, strong earnings visibility, and long-term contracts from hyperscalers. Buy on pullbacks, e.g., SK hynix near 150,000 won, for long-term exposure.
005930.KS 000660.KS HIGH
Lee Jae-kyu PB Deputy Manager, SK Securities 4:29
KOSPI upward trend continues on valuation.
The Korean stock market (KOSPI) is likely to continue its upward trend based on forward PER valuation (11x-10x supporting 8,000+) and improving macro stability. Investors should maintain equity exposure and expect further upside.
EWY MED
Lee Jae-kyu PB Deputy Manager, SK Securities 8:00
Korean Air benefits from oil decline.
Korean Air benefits from falling oil prices (WTI down to ~$95) and strong passenger/cargo demand. The geopolitical risk premium that pressured the stock is fading, making it attractive after recent pullbacks.
003490.KS MED
Lee Jae-kyu PB Deputy Manager, SK Securities 17:20
KOSDAQ to rise on policy fund.
The KOSDAQ index is set to benefit from the government's National Growth Fund (6.2 trillion won, with 30% allocated to KOSDAQ) starting May 22. This policy-driven inflow is expected to attract additional follow-on buying, making it a good time to accumulate KOSDAQ exposure.
KOSDAQ MED
Lee Jae-kyu PB Deputy Manager, SK Securities 19:32
Defense stocks buy on further pullback.
Korean defense stocks are a long-term buying opportunity after recent pullbacks triggered by ceasefire narratives. Global defense spending remains elevated, and if prices fall further, they offer an attractive entry point.
ITA LOW
Lee Jae-kyu PB Deputy Manager, SK Securities 22:00
Shipbuilding earnings turnaround underway.
HD Hyundai Heavy Industries is poised for an earnings turnaround as low-margin orders from 2022-2023 are mostly flushed out and high-margin orders start reflecting from Q2. Additional catalysts include LNG/naval orders and AI data center generator demand.
329180.KS HIGH
Lee Jae-kyu PB Deputy Manager, SK Securities 24:00
Securities stocks benefit from high volume.
Korean securities stocks (Samsung Securities, NH Investment & Securities) are attractive on pullbacks because daily trading volume is running near 60 trillion won with rising credit balances, directly boosting brokerage and interest income. The pullback is a buying opportunity.
016360.KS 005940.KS MED
Lee Jae-kyu PB Deputy Manager, SK Securities 27:00
Samsung C&T NAV discount to narrow.
Samsung C&T is undervalued due to a holding company discount (NAV discount ~60% based on stakes in Samsung Electronics and Samsung Biologics). As governance simplification progresses, the discount should narrow, pushing the stock higher.
028260.KS HIGH
Lee Jae-kyu PB Deputy Manager, SK Securities 30:40
Alteogen may find support on track record.
Alteogen, after a sharp decline due to lower-than-expected royalty rates, may find support near current levels because of the company's strong licensing track record. While the sector lacks near-term catalysts, the stock could stabilize and eventually rebound.
196170.KQ MED
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3PRO TV (삼프로TV) · May 07

This 3PRO TV (삼프로TV) video, published May 07, 2026, features Lee Jae-kyu discussing 005930.KS, 000660.KS, EWY, 003490.KS, KOSDAQ, ITA, 329180.KS, 016360.KS, 005940.KS, 028260.KS, 196170.KQ. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Jae-kyu  · Tickers: 005930.KS, 000660.KS, EWY, 003490.KS, KOSDAQ, ITA, 329180.KS, 016360.KS, 005940.KS, 028260.KS, 196170.KQ