ETF Net Assets Increased Another 50 Trillion Won... Watch the Value-Up Policy | Park Byung-chang, Director at Kyobo Securities

ETF 순자산 50조 또 늘어...밸류업 정책을 주목하라 | 박병창 교보증권 이사 [마켓 인사이드]
Watch on YouTube ↗  |  February 11, 2026 at 00:20  |  40:53  |  3PRO TV (삼프로TV)
Speakers
Park Byeong-chang — Director, MP Partners

Summary

Park Byung-chang reviews a US market where AI and data-center stocks rebounded but profit-taking returned, while weak US retail sales and household debt data raised consumer concerns. In Korea, he highlights rotation from semiconductor, defense, power, and nuclear leaders into financials, department stores, hotels, airlines, and logistics, with value-up and Commercial Act revision supporting financials. He also discusses memory supercycle upside for Samsung Electronics and SK hynix, Anthropic's AI data-center capex, AI disruption risk for US wealth managers, and holiday-hedge ETF ideas.

  • US AI and data-center stocks rebounded, then saw profit-taking; S&P 500 neared highs but flows rotated.
  • Weak US retail sales and household debt data raised concerns about a K-shaped consumer.
  • Korean market leadership rotated to financials, retail, hotels, airlines, and logistics.
  • Financials were favored on value-up and Commercial Act revision momentum.
  • Memory supercycle forecast implies major upside for Samsung Electronics and SK hynix.
  • AI data-center capex and AI disruption in financial services were key themes.
  • Holiday-risk ideas included aerospace/defense and dividend/buyback ETFs.
  • Construction Big Bath imitation and US chip tariff pressure were also discussed.
Ideas
Park Byeong-chang Director, MP Partners 10:22
Value-up momentum lifts Korean financials.
Financial holdings, banks, and securities remain the strongest Korean market area; they barely corrected in the January-early February pullback. The speaker attributes this to pending momentum from the Commercial Act amendment and value-up policy, plus earnings support, and names Shinhan, KB, Hana, Woori, Korea Investment, and NH as key beneficiaries.
055550.KS 105560.KS 086790.KS 316140.KS 071050.KS 005940.KS HIGH
Park Byeong-chang Director, MP Partners 10:46
Travel recovery lifts Korean retail, airlines.
Korean department stores, hotels, airlines, and duty-free retailers are benefiting as market flows rotate there. Drivers include Lunar New Year demand, inbound tourism and duty-free expectations, record January international passenger traffic of 6.88 million, Coupang-related delivery/deregulation news, and hopes for a domestic demand recovery.
Korean department stores KORU Korean airlines Korean duty-free retailers MED
Park Byeong-chang Director, MP Partners 14:37
Buy aerospace defense ETF for holidays.
If investors want to carry risk through the Korean holiday, aerospace and defense ETFs can be a suitable thematic exposure, given geopolitical and defense risk.
Korean aerospace & defense ETF MED
Park Byeong-chang Director, MP Partners 14:47
Dividend, buyback ETFs for holiday safety.
As a safer holiday holding, investors can buy dividend or treasury-share-related ETFs tied to the third Commercial Act revision, which supports shareholder returns and the value-up theme.
Korean dividend/shareholder-return ETF MED
Park Byeong-chang Director, MP Partners 21:22
Korean domestic demand may recover.
Korea's domestic demand may become a main driver of growth over coming years, helped by asset-price wealth effects and expansionary fiscal policy. The speaker notes this view is still debated but sees it as plausible and supportive of Korean consumer and domestic-demand exposure.
Korean domestic demand/consumer sector MED
Park Byeong-chang Director, MP Partners 22:01
Memory supercycle boosts Samsung, SK hynix.
TrendForce forecasts total memory market revenue at $550 billion this year versus $235.7 billion last year. Since Samsung Electronics and SK hynix together hold over 60% of the memory market and over 70% of DRAM, the speaker calculates this could translate into roughly KRW 480-500 trillion of Korean revenue and makes recent talk of 200-300 trillion won combined operating profit plausible, supporting Korean GDP growth forecasts.
005930.KS 000660.KS HIGH
Park Byeong-chang Director, MP Partners 25:21
Anthropic's 10GW plan fuels AI data centers.
Anthropic plans a 10GW data center; at roughly $50 billion per 1GW, this implies about $500 billion of capex. The company has hired Google data-center executives and is preparing an IPO, suggesting the buildout is serious despite large funding needs, which supports the AI data center infrastructure theme.
AI Data Center Infrastructure MED
Park Byeong-chang Director, MP Partners 32:13
AI tools threaten wealth management margins.
Altruist launched an AI tax-strategy tool, causing LPL Financial and Charles Schwab shares to fall sharply as investors fear AI will pressure high-margin asset management and tax advisory revenue. The speaker says this disruption theme will keep recurring, making legacy wealth-management and brokerage business models vulnerable to margin compression and staffing cuts.
LPLA SCHW MED
Park Byeong-chang Director, MP Partners 34:41
Korean builders may copy Big Bath.
Daewoo E&C's Big Bath and overseas nuclear move sparked a sharp rally. The speaker expects other Korean construction companies to imitate by pre-reflecting unsold housing and real-estate losses, which could stabilize earnings from this year and create a sector theme.
Korean construction sector MED
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This 3PRO TV (삼프로TV) video, published February 11, 2026, features Park Byeong-chang discussing 055550.KS, 105560.KS, 086790.KS, 316140.KS, 071050.KS, 005940.KS, Korean department stores, KORU, Korean airlines, Korean duty-free retailers, Korean aerospace & defense ETF, Korean dividend/shareholder-return ETF, Korean domestic demand/consumer sector, 005930.KS, 000660.KS, AI Data Center Infrastructure, LPLA, SCHW, Korean construction sector. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Byeong-chang  · Tickers: 055550.KS, 105560.KS, 086790.KS, 316140.KS, 071050.KS, 005940.KS, Korean department stores, KORU, Korean airlines, Korean duty-free retailers, Korean aerospace & defense ETF, Korean dividend/shareholder-return ETF, Korean domestic demand/consumer sector, 005930.KS, 000660.KS, AI Data Center Infrastructure, LPLA, SCHW, Korean construction sector