Semiconductor stocks, ignited KOSPI 5000 era is coming; 'foreign capital's big move into the Korean stock market' / Entertainment stocks signal rebound! Expectations for lifting of China's Korean-content ban | W Asset Management CEO Noh Hyeon-bok

Summary

Noh Hyeon-bok, CEO of W Asset Management, tells Hwang Wi-hyun that the KOSPI remains in a positive earnings- and policy-driven regime with room for foreign inflows toward 5,000. He is bullish on Korean memory semiconductors because AI capex and tight supply support HBM/DRAM/eSSD earnings and valuation re-rating, and he sees defense/shipbuilding as additional 2026 earnings-growth sectors. On stock selection, he uses Google Trends and SNS hashtags to track consumer and entertainment momentum, highlighting MediCube/APR and HYBE, with DearU also expected to grow earnings. China's Korean-content ban easing is framed as optionality for HYBE.

• KOSPI outlook is positive, with 5,000 seen as reachable on earnings and foreign inflows.
• Korean memory semiconductors are favored on AI capex, tight supply, and low valuations versus TSMC.
• Defense and shipbuilding are cited as additional 2026 earnings-growth sectors.
• Google Trends and SNS hashtags are the guest's stock-idea screening tools.
• APR/MediCube remains a positive beauty/consumer example.
• HYBE is highlighted for BTS/Cortis/Katseye momentum and China reopening optionality.
• DearU is mentioned for expected entertainment earnings growth.
• The guest dismisses near-term AI peak-out fears and says supply timing is the key monitorable.