Ideas
Korea equities supported by earnings and policy
Korean equities remain attractive into the first half because the rally is supported by three durable pillars: semiconductor EPS growth, policy-driven PER expansion as funds move from bonds and overseas assets into domestic stocks, and DPS growth from Samsung and SK hynix profits. Short-term Warsh-driven volatility is a level and volatility shock, not a trend breaker, and policy momentum continues before the June local elections.
Dividend tax basket includes holding companies
With dividend separate taxation first applied in 2026, investors cannot capture the semiconductor dividend boom by buying only Samsung Electronics or SK hynix; they also need companies that can pay eligible dividends, making SK Square, Samsung C&T, and Samsung Life a package trade.
Royal Caribbean benefits from cruise trend
Royal Caribbean is a trend winner, not just a cyclical: revenue grew about 40% year over year, capacity is expanding with larger and luxury ships, younger travelers are adopting cruises, and the all-inclusive, inflation-friendly value proposition makes its competition land-based travel rather than other cruise lines.
Securities benefit from KOSDAQ trading surge
Brokerage stocks should benefit from KOSDAQ revitalization because trading value surges more in KOSDAQ than KOSPI; recent two-week trading value is over 1.5x year-end levels, first-quarter earnings may beat last year, and securities firms are traditional dividend payers, so weakness is a buying opportunity.
KOSDAQ policy support drives institutional inflows
KOSDAQ revitalization policy is a positive catalyst: government support, crackdowns on market abuse, and pension funds adding a 5% KOSDAQ benchmark should bring institutional inflows. KOSDAQ has higher turnover and beta than KOSPI, though heavy short selling remains a risk.
AI world models threaten game makers
Google's Project Genie can generate interactive game-like worlds from AI, threatening game companies' manual, coder-heavy content production model; the AI shift is a crisis for game makers even if it is an opportunity for robots.
AI world models accelerate robot era
Project Genie and AI world models can rapidly generate digital twins and interactive environments, accelerating robot training and adoption, so the robot era may arrive faster than expected.
Microsoft AI monetization doubts cool sentiment
Microsoft is a relative caution within big tech: Copilot growth is not improving enough to justify rising capex, so the market is becoming more skeptical about AI front-end monetization; the stock is not fundamentally broken but near-term sentiment is cooling.
Alphabet complete AI stack re-rates
Alphabet's AI monetization concerns should fade because Gemini, Nano Banana, and Project Genie show it has a complete AI stack: cloud, consumer distribution, B2B integrations with Apple, Samsung, and Coupang, and competitive pricing, unlike Microsoft's weaker Copilot monetization.
Korean semis structural AI upcycle continues
Korean semiconductors are in a structural upcycle, not merely an earnings bounce. Samsung and SK groups are securing AI super-player customers across memory, foundry, components, and substrates, and although AI monetization worries, CXMT listing supply, and Micron weakness can cause volatility, they do not end the cycle.
Samsung Electronics AI customers expand
Samsung Electronics is broadening its AI customer base through robot semiconductor collaboration and Tesla foundry production, making it part of a Samsung Group-wide multiple expansion cycle as all affiliates win new AI customers.
Samsung Electro-Mechanics gains Nvidia substrate orders
Samsung Electro-Mechanics is expanding into AI components beyond chips; Nvidia FCBGA order news, plus existing Amazon and AMD customer relationships, supports its camera and PCB franchise.
Samsung SDI wins Tesla ESS, robot battery
Samsung SDI has a confirmed Tesla ESS order and is likely the battery supplier for Hyundai's Atlas robot, giving it concrete exposure to both energy storage and robot themes.
SK hynix internal changes re-rate valuation
SK hynix has stronger narrative and earnings momentum than Samsung Electronics; its plan to pay 10% of operating profit as employee bonuses, a larger 12 trillion won buyback and cancellation, and potential ADR listing could attract talent and re-rate the valuation toward Micron, implying major upside.
US financials benefit from deregulation cycle
During the US leadership-transition cycle, financials can manage volatility because they benefit regardless of party; bipartisan-consensus deregulation such as antitrust easing and Basel III relief should support M&A, IPOs, and higher capital returns.
Goldman P/B re-rating on deregulation
Goldman Sachs trades at 0.9x P/B versus a 1.1x 10-year average, and deregulation, M&A and IPO recovery plus dividend increases from about 1% toward prior 2% levels could drive P/B re-rating.
Harim cheap KOSDAQ holding company
Harim Holdings is the cheapest discount holding company in the KOSDAQ 150, trading around 0.55x PBR and 5x PER while owning Pan Ocean; it is a prime beneficiary if institutions buy cheap, profitable KOSDAQ names under the new benchmark.
Prefer Hyundai Glovis over Hyundai AutoEver
In an overheated robot and AI theme, prefer Hyundai Glovis over Hyundai AutoEver because Glovis has a clear valuation anchor from its Boston Dynamics stake and stable long-term visibility, while AutoEver relies more on broad, imaginative AI mobility themes.
Prefer Hyundai Glovis over Hyundai AutoEver
In an overheated robot and AI theme, prefer Hyundai Glovis over Hyundai AutoEver because Glovis has a clear valuation anchor from its Boston Dynamics stake and stable long-term visibility, while AutoEver relies more on broad, imaginative AI mobility themes.
Kiwoom leads retail trading share
When individual investors dominate trading value, brokers with the highest retail share benefit most; Kiwoom Securities is the clearest retail-trading proxy in the Korean brokerage sector.
Mirae has SpaceX and buyback catalysts
Mirae Asset Securities has company-specific catalysts in the brokerage rally: potential SpaceX IPO-related business and a large treasury share position of about 26%, which supports value and shareholder return.
Samsung Securities gains buyback execution flow
Samsung Securities should receive direct flow benefits because Samsung Electronics buybacks are likely executed through it, adding a company-specific catalyst within the attractive securities sector.
Korea inbound tourism set to boom
Korea's inbound tourist arrivals may hit a record as non-Chinese visitors remain strong and Chinese visitors return; Japan has double Korea's inbound size but Chinese travel to Japan is only half normal, and with Spring Festival overlapping Lunar New Year, Korean tourism is a direct beneficiary.
Aesthetic device demand rises with inbound
Korean aesthetic medical device makers already have high operating margins, and a Chinese inbound tourism recovery should strongly boost demand for skin-booster and Rejuran-like procedures; examples include Classys, LNC Bio, and PharmaResearch.
Hotels benefit but duty-free drags
Hotels are positive on inbound tourism, but they have significant duty-free exposure, so the speaker prefers pure cosmetics; stronger tourist arrivals still support hotel demand.
Korean cosmetics margins rise on inbound
Pure cosmetics are the preferred inbound-tourism expression over hotels and duty-free because operating margins are now much higher than before and Chinese Spring Festival traffic should lift demand; examples include AmorePacific, LG H&H, and D'Alba Global.
This 3PRO TV (삼프로TV) video, published February 02, 2026,
features Lee Hyuk-jin
discussing EWY, 402340.KS, 028260.KS, 032830.KS, RCL, Korean securities/brokerage sector, KOSDAQ, ESPO, ROBO, MSFT, GOOGL, Korean semiconductor sector, 005930.KS, 009150.KS, 006400.KS, 000660.KS, XLF, GS, 003380.KQ, 086280.KS, 307950.KS, 039490.KS, 006800.KS, 016360.KS, Korean tourism sector, Korean aesthetic medical device sector, Korean hotel sector, KORU.
26 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Lee Hyuk-jin
· Tickers:
EWY,
402340.KS,
028260.KS,
032830.KS,
RCL,
Korean securities/brokerage sector,
KOSDAQ,
ESPO,
ROBO,
MSFT,
GOOGL,
Korean semiconductor sector,
005930.KS,
009150.KS,
006400.KS,
000660.KS,
XLF,
GS,
003380.KQ,
086280.KS,
307950.KS,
039490.KS,
006800.KS,
016360.KS,
Korean tourism sector,
Korean aesthetic medical device sector,
Korean hotel sector,
KORU
