'Black Monday'... Bargain Sale? Sideways Again? The Answer Is Out | Kim Jung-hwan, Manager, Hana Securities Club1 WM Center

'검은 월요일'... 바겐세일? 또 횡보? 답은 나와 있다 | 김정환 하나증권 Club1WM센터 과장 [더블 크루]
Watch on YouTube ↗  |  February 02, 2026 at 01:48  |  17:30  |  3PRO TV (삼프로TV)
Speakers
Kim Jung-hwan — Manager, Hana Securities Club1WM Center
Vincent — Host
Pyeon Sang-wook — Anchor

Summary

Kim Jung-hwan of Hana Securities argues that the KOSPI is ending a 17-year sideways range and entering a large AI-led bull market driven by both earnings growth and valuation re-rating. He favors market leaders, semiconductors, and cosmetics, and tactically flags KOSDAQ strength. Co-hosts Vincent and Pyeon Sang-wook discuss buying Korean equities on dips, with Vincent disclosing steady accumulation of Samsung Electronics and SK hynix.

  • Kim Jung-hwan presents a structural KOSPI bull case based on valuation expansion and AI-driven earnings.
  • Historical KOSPI and US market data are used to argue bull markets come mainly from PBR re-rating.
  • Current KOSPI PBR near 1.68x versus historical bull-market levels near 2.0x is presented as leaving upside.
  • Kim favors semiconductor and cosmetics leadership groups and suggests staged buying of market leaders.
  • Kim also calls KOSDAQ relative strength in a shaky market.
  • Vincent favors buying Korean equities on earnings-based dips.
  • Vincent says he has steadily accumulated Samsung Electronics and SK hynix over 7-8 months.
  • Pyeon Sang-wook says he holds SK hynix through volatility as a semiconductor lover.
Ideas
Kim Jung-hwan Manager, Hana Securities Club1WM Center 1:52
KOSPI bull market has ample upside.
Korea's KOSPI spent 17 years in a sideways box, but Kim argues the current AI-led cycle is different: 2025 operating profit estimates of KRW 380-400tn are more than double prior levels, while PBR has re-rated only to about 1.68x versus historical bull-market levels near 2.0x. Past bull markets came mainly from valuation expansion; now both earnings and valuation can rise, so index upside remains ample.
EWY HIGH
Vincent Host 3:00
Buy Korean equities on dips.
Vincent argues that as long as the market decline is not irrational and remains earnings-based, investors should buy Korean stocks on dips. He points to strong buying in most large caps except SK hynix and KOSDAQ nearly turning positive as evidence the market is not breaking down.
Korean equities MED
Pyeon Sang-wook Anchor 3:23
Hold SK hynix through volatility.
Pyeon describes himself as a semiconductor lover and says he holds SK hynix through volatility, even when it falls around 3% on a shaky day, because of the gains already accumulated. He frames it as a name to keep pushing rather than sell.
000660.KS MED
Kim Jung-hwan Manager, Hana Securities Club1WM Center 14:14
Buy Korean semiconductor leaders on weakness.
Kim says the AI semiconductor supercycle is driving the earnings recovery, and he favors the semiconductor leadership group as a core portfolio area, especially when the market shakes out. He treats semiconductors as one of the predetermined market-leading groups to buy rather than avoid.
Korean Semiconductors HIGH
Kim Jung-hwan Manager, Hana Securities Club1WM Center 14:18
Favor Korean cosmetics leadership.
Along with semiconductors, Kim says he likes cosmetics, describing it as a currently moving leadership area that can be included in a portfolio of market leaders. The support is brief but he clearly states a positive view.
Korean cosmetics LOW
Kim Jung-hwan Manager, Hana Securities Club1WM Center 15:12
Buy KOSDAQ on relative strength.
Kim called for buying KOSDAQ as it turned positive despite the broad market shakeout, implying relative strength and a tactical rotation opportunity. The host noted that if KOSDAQ follows his call, it would be a notable signal.
KOSDAQ MED
Vincent Host 16:47
Accumulate Samsung and SK hynix.
Vincent says he has been talking about Samsung Electronics and SK hynix for the past 7-8 months and has been steadily accumulating both. He has a target level in mind but is not selling yet, indicating a still-bullish stance.
005930.KS 000660.KS HIGH
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This 3PRO TV (삼프로TV) video, published February 02, 2026, features Kim Jung-hwan, Vincent, Pyeon Sang-wook discussing EWY, Korean equities, 000660.KS, Korean Semiconductors, Korean cosmetics, KOSDAQ, 005930.KS. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kim Jung-hwan, Vincent, Pyeon Sang-wook  · Tickers: EWY, Korean equities, 000660.KS, Korean Semiconductors, Korean cosmetics, KOSDAQ, 005930.KS