Leverage Launch Imminent, The Real Reason to Be Careful

레버리지 출시 눈 앞, 진짜 조심해야 하는 이유| 백인재 하나증권 영업부금융센터 부센터장 [더블 크루]
Watch on YouTube ↗  |  May 12, 2026 at 03:51  |  18:04  |  3PRO TV (삼프로TV)
Speakers
Baek In-jae — Deputy Center Director, Hana Securities

Summary

Baek In-jae of Hana Securities discusses investing in Samsung Electronics and SK hynix as earnings-driven long-term holdings, warns against the upcoming single-stock leveraged ETFs, and recommends Samsung C&T and SK Square as undervalued proxies. He also briefly touches on KOSDAQ stocks and the potential short-term impact of the ETF launch.

  • Baek In-jae reiterates a bullish stance on Samsung Electronics and SK hynix based on strong earnings.
  • He highlights Samsung C&T as an undervalued proxy with a core business turnaround.
  • SK Square is presented as a high-leverage play on SK hynix.
  • The upcoming single-stock 2x leveraged ETFs are cautioned as unsuitable for long-term holding.
  • The ETF launch may create short-term buying pressure in the underlying stocks before May 27.
  • He advises long-term investors to hold the underlying shares rather than switch to leveraged products.
  • KOSDAQ stocks are briefly mentioned but no strong thesis is provided.
Trade Ideas
Baek In-jae Deputy Center Director, Hana Securities 2:53
Undervalued Samsung proxy with turnaround.
Samsung C&T holds about 5% of Samsung Electronics shares, worth roughly 85 trillion won based on Samsung Electronics' market cap, yet the company's own market cap is under 70 trillion won — implying it trades below tangible book value. Additionally, its core business is turning around with SMR, hydrogen, and other energy themes. It serves as a safer proxy with downside protection.
028260.KS HIGH
Baek In-jae Deputy Center Director, Hana Securities 3:43
High leverage to SK hynix.
SK Square holds a 20% stake in SK hynix, giving it direct leverage to SK hynix's performance. Its share price has risen more sharply than that of Samsung C&T because of this higher proportional holding. It is another proxy for investors who missed the direct run in SK hynix.
402340.KS MED
Baek In-jae Deputy Center Director, Hana Securities 8:00
Earnings-backed rally, hold for upside.
The launch of single-stock 2x leveraged ETFs for Samsung Electronics and SK hynix on May 27 is expected to cause ETF providers to buy the underlying shares in advance, providing short-term upward momentum. Additionally, some investors may sell the underlying stocks to switch into the leveraged products, but the net effect could support prices until the launch date.
000660.KS 005930.KS HIGH
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This 3PRO TV (삼프로TV) video, published May 12, 2026, features Baek In-jae discussing 028260.KS, 402340.KS, 000660.KS, 005930.KS. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Baek In-jae  · Tickers: 028260.KS, 402340.KS, 000660.KS, 005930.KS