We Deliver the Story of 'Unusual' People Becoming 'Rich' Through 'Stocks'! | Executive Director Park Se-ik & Chesley Head of Learning & Dr. So Hyeon-cheol
We Deliver the Story of "Unusual" People Becoming "Rich" Through "Stocks"! | Executive Director Park Se-ik & Chesley Head of Learning & Dr. So Hyeon-cheol [Byeoljubujeon / 26.07.18.Sat]
Speakers
Clare Pleydell-Bouverie
— Co-Head of Global Innovation, Liontrust Asset Management
Park Se-ik
— CEO, ex-Chief Strategist
So Hyeon-cheol
— Adjunct Professor, Sangji University
Elli
— AI Expert
Im Gamdok
— Analyst
Summary
Park Se-ik and guests review the brutal Korean market sell-off, analyze US cybersecurity strength with CrowdStrike vs Palo Alto, and assess the impact of China's Kimi K3 AI model on semiconductor pricing. Dr. So Hyeon-cheol provides in-depth theses on Korean shipbuilding, defense (LIG Nex1), POSCO Holdings, and Samsung Electronics as a safer semiconductor pick. Bug presents DN Automotive as a niche machine tool leader with export tailwinds.
- US markets saw rotation out of semiconductors into cybersecurity; CrowdStrike favored for its growth and 95% subscription revenue model.
- China's open-source Kimi K3 AI model signals intensifying competition, raising doubts about sustained memory chip pricing.
- KOSPI fell 31% from peak; Park Se-ik sees historical precedent for a rebound absent a recession, advocating buying.
- Dr. So Hyeon-cheol highlights Korean shipbuilding (HD Hyundai Heavy) supported by US naval MRO and SMR nuclear ship development.
- Defense sector rally driven by missile systems like LIG Nex1's Cheongung II, leveraging domestic semiconductor tech for superior precision.
- POSCO Holdings is deeply undervalued at PBR 0.4x with a new rare earth/niobium development angle and improving steel margins.
- Samsung Electronics viewed as a diversified safe haven within semiconductors, offering foundry and handset optionality.
- Bug's deep dive on DN Automotive reveals a global machine tool leader with 14% margins, wide customer base, and strong export leverage.
Ideas
Cybersecurity growth leader with strong subscription model
Cybersecurity spending is a top IT budget priority as enterprises reallocate funds from legacy software to security and AI, confirmed by IBM's CEO comments. CrowdStrike leads in endpoint security with a 95% subscription revenue model, strong data network effects, 26% revenue growth, and expanding margins. Its CANSLIM score of 66 outpaces Palo Alto (61.2), and on an EV/Sales-to-growth basis it is about 23% cheaper despite a higher headline multiple. The thesis is to accumulate CrowdStrike on pullbacks as it builds a unified security platform.
Memory price growth decelerating, reduce positions
China's Kimi K3 open-source AI model and other low-cost Chinese models threaten to commoditize AI inference, forcing US hyperscalers to compete on cost. This implies that AI semiconductor pricing power may be peaking; memory DRAM price increases are already decelerating (from +95% QoQ to ~10% QoQ). Investors should trim memory semiconductor positions on strength rather than chase further gains.
Memory price growth decelerating, reduce positions
Among Korean semiconductor stocks, Samsung Electronics is a relatively safer pick because of its diversified portfolio (foundry, mobile phones, memory). If memory prices stabilize or fall, its handset business benefits, and its foundry serves as a geographic hedge against Taiwan Strait risks. The stock has already priced in a severe earnings cut, making it a more defensive way to stay invested in semiconductors.
KOSPI oversold, buy on recession absence
KOSPI has fallen over 30% from its peak and, historically, a drop of this magnitude without a US recession or global IB failure has always been a buying opportunity. Foreign investors are already accumulating futures and starting to buy cash equities. Selling into further weakness is a mistake; the index is deeply oversold and likely to rebound.
Machine tool maker with 14% margins
DN Automotive is a global top-3 machine tool manufacturer with 73% domestic market share through its subsidiary DN Solutions. It consistently delivers 14% operating margins, far above Japanese and German peers, thanks to a cost-efficient dealer model, a diversified end-market portfolio (defense, aerospace, semiconductor equipment, EV), and strong export leverage (87% of sales) that benefits from a weak won. The recent acquisition of Heller expands its European presence, and at a PBR around 1x it remains undervalued relative to its profitability and growth.
Shipbuilding turnaround with nuclear ship technology
Korean shipbuilders are transforming from commercial vessel makers into defense and nuclear-powered ship leaders. HD Hyundai Heavy Industries is developing SMR-propelled container ships with TerraPower and Bill Gates, and the US is increasingly reliant on Korean yards for MRO and naval support. The recent sell-off after losing a Canadian submarine order is a buying opportunity, as Korean submarines are attracting global interest and order momentum remains strong.
Defense leader with semiconductor missile tech
South Korea’s defense sector is emerging as a top global exporter, especially in missile systems and artillery. LIG Nex1’s Cheongung II missile system achieved a 96% interception rate in the Middle East, driven by its in-house semiconductor technology that enhances precision. As demand surges from the Middle East and Europe, LIG Nex1 is a key beneficiary with a competitive edge in guidance systems.
Deep value with rare earth optionality
POSCO Holdings trades at a PBR of 0.4x with earnings set to recover due to anti-dumping tariffs on Chinese steel and a turnaround in its battery materials business. The company is branching into rare earth and niobium development through POSCO International, creating an optionality similar to Japanese trading companies. With a recent Analyst Day signaling strategic shifts, the deep value and new growth drivers make it attractive.
Up Next
This Chesley Investment Advisory (체슬리투자자문) video, published July 18, 2026, features Clare Pleydell-Bouverie, Park Se-ik, Bug, So Hyeon-cheol discussing CRWD, 000660.KS, 005930.KS, EWY, 007340.KS, 329180.KS, 079550.KS, 005490.KS. 8 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Clare Pleydell-Bouverie, Park Se-ik, Bug, So Hyeon-cheol · Tickers: CRWD, 000660.KS, 005930.KS, EWY, 007340.KS, 329180.KS, 079550.KS, 005490.KS