Semiconductors Are Rising Again, Should I Buy Now? Why You Should Wait a Beat | Jang Woo-jin, CEO of Geumsigong

Semiconductors are rising again, should I buy now? Why you should wait a beat | Jang Woojin, CEO of Geumsigong [Global Interview]
Watch on YouTube ↗  |  August 23, 2026 at 22:54  |  35:59  |  3PRO TV (삼프로TV)
Speakers
Jang Woo-jin — Writer

Summary

Jang Woo-jin discusses Korean semiconductor shareholder return, arguing SK Hynix's buyback-and-cancel is more supportive than Samsung Electronics' dividend-heavy policy. He sees Nvidia earnings as solid but not dramatically bullish, and warns investors not to chase semiconductor leaders because AI-demand and war-inflation risks remain. He is cautious on long-term Treasuries, likes gold and silver, and suggests long-term investors focus on Korean financials, telecoms, and AI data center builders.

  • SK Hynix's buyback/cancellation is viewed as more shareholder-friendly than Samsung Electronics' dividend-heavy return.
  • A relative long SK Hynix / short Samsung Electronics setup is discussed.
  • Nvidia earnings should be fine but operating leverage has faded; gross margin and volume guidance are key.
  • Semiconductor leaders are not attractive for aggressive new buying here; wait for better volatility.
  • Treasury buyback is seen as limited and unlikely to push long-term yields down.
  • Gold is favored as a long-term currency distrust hedge; silver is favored on industrial supply-demand tightness.
  • For 5-10 year money, Korean financial holding companies, telecoms and AI data center builders are preferred.
Ideas
Jang Woo-jin Writer 2:37
Prefer SK Hynix over Samsung Electronics.
Shareholder returns are positive, but only buyback-and-cancel has a cumulative, lasting effect on share count and valuation, while dividends are one-time and reset via the dividend adjustment. SK Hynix is seen as more shareholder-friendly because it is doing large buyback/cancellation, whereas Samsung Electronics is tilted to dividends and is unlikely to cancel because its insurance affiliates' stakes would create financial regulation issues. This supports a relative long SK Hynix / short Samsung Electronics or at least splitting exposure between the two.
000660.KS HIGH
Jang Woo-jin Writer 2:37
Prefer SK Hynix over Samsung Electronics.
Samsung Electronics is discussed in a relative shareholder-return comparison versus SK Hynix; no explicit short, puts, or actionable bearish trade call is stated.
005930.KS HIGH
Jang Woo-jin Writer 11:55
Watch Nvidia margins and volume guidance.
Nvidia's base results should be fine because semiconductor demand is strong, but gross margin has plateaued around 72-75%, so operating leverage is over. The 15% price increase may offset costs but forces big tech capex up and shifts focus to volume growth; data center siting and political delays are unresolved. The report is unlikely to spark a dramatic rally but could ease some worries; key watch points are gross margin and quantity/volume commentary.
NVDA HIGH
Jang Woo-jin Writer 16:51
Wait before buying semiconductor leaders now.
He is not aggressively buying semiconductor leaders here because war-driven inflation risk can spill into AI capex, and if AI demand stumbles the semiconductor complex can fall in domino fashion. Current price levels are not attractive enough, so he prefers waiting or buying in increments rather than chasing.
Korean semiconductor sector HIGH
Jang Woo-jin Writer 18:05
Treasury buyback won't lower long-term yields.
Treasury buyback is a negative signal showing long-term yields are stressed; the market is not convinced because the Treasury lacks cash and would need to issue short-term debt, while bond vigilantes are selling. Since the Fed, not Treasury, is the proper authority to address yields, the buyback can at best cap the upside in yields but will not push long-term yields down; long-term Treasury prices remain unattractive.
TLT MED
Jang Woo-jin Writer 26:06
Own Korean financials, telecoms, data centers.
For investors with a genuine 5-10 year horizon, he says to hold structural names that are unlikely to collapse and will keep generating earnings and dividends: large Korean financial holding companies and telecoms, plus companies building AI data center capacity with long-term plans. He contrasts these with cyclical semiconductor names that are more fragile if AI demand stumbles.
Korean Financial Holding Companies Korean AI data center builders MED
Jang Woo-jin Writer 33:04
Accumulate gold long-term as currency hedge.
Gold is rising because investors do not trust fiat currencies and sovereign debt; long-term Treasury yield stress reflects that distrust. US-China tensions mean China cannot easily buy US debt, so it buys gold instead. Demand is increasing, so accumulating gold gradually as a long-term strategic position is reasonable.
GLD HIGH
Jang Woo-jin Writer 33:44
Silver supply-demand supports higher prices.
Silver is different from gold because industrial demand is much larger, and industrial demand from solar, secondary batteries and other applications is rising while silver mining supply is limited. This supply-demand imbalance supports higher silver prices.
SILVER HIGH
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This 3PRO TV (삼프로TV) video, published August 23, 2026, features Jang Woo-jin discussing 000660.KS, 005930.KS, NVDA, Korean semiconductor sector, TLT, Korean Financial Holding Companies, Korean AI data center builders, GLD, SILVER. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jang Woo-jin  · Tickers: 000660.KS, 005930.KS, NVDA, Korean semiconductor sector, TLT, Korean Financial Holding Companies, Korean AI data center builders, GLD, SILVER