What to Check When Wondering Whether to Re-Enter or Not | Lee Sung-won, PB at Hana Securities Naver Green Factory Branch

Summary

Lee Sung-won, a PB at Hana Securities Naver Green Factory Branch, discusses whether investors should take profits in memory semiconductors, arguing Samsung Electronics and SK hynix are not yet sell candidates. He presents rotation into semiconductor equipment and materials, a positive first-half K-beauty/cosmetics setup focused on ODMs, Silicon2, and a diversified cosmetics ETF. He also highlights Chinese tourist recovery and the BTS/HYBE entertainment catalyst.

• Lee Sung-won argues memory prices remain supported by limited capacity expansion in 2026-2027, so Samsung Electronics and SK hynix are still hold/watch names rather than sells.
• For investors taking profits in memory names, he suggests semiconductor equipment and materials suppliers as an early-capex-cycle rotation.
• He views the Silicon2 selloff as part of a K-beauty expansion phase and says first-half cosmetics seasonality makes the sector worth watching.
• He favors large cosmetics ODMs and major makers such as Cosmax, Amorepacific, and Kolmar Korea as beneficiaries of global retailer competition for K-beauty.
• He suggests the SOL Cosmetics Top3 Plus ETF as a diversified way to gain exposure to cosmetics leaders and ODM companies.
• He flags Chinese tourist recovery as a positive setup for GS PNL.
• He sees HYBE and the Korean entertainment sector as supported by BTS's March 20 comeback and a roughly 75-show world tour.
• The market update noted semiconductors weak while Hyundai Motor was relatively strong.