June 23, 2026 Afternoon Broadcast Full Version: Is the #1 Market Cap Swap a Sign of Decline? Samsung and SK Hynix Still Top Net Buy Despite Crash

Summary

On June 23, 2026, KOSPI crashed nearly 10% and KOSDAQ fell 8%, triggering circuit breakers. A panel of experts—Kim Jang-yeol, Lee Kwon-hee, Lee Kyung-min, Hwang Ui-hyeon, and Cha Young-joo—discussed the reasons, concluding that the drop was driven by supply-side rebalancing and profit-taking rather than fundamental deterioration. They argued the sell-off is a buying opportunity, especially for semiconductor leaders Samsung Electronics and SK Hynix, while also highlighting brokerage stocks as beneficiaries of high trading activity and a potential KOSDAQ rebound later.

• KOSPI plummeted 9.99% and KOSDAQ 7.94% amid rebalancing fears, profit-taking, and negative sentiment, but massive individual investor buying (11 trillion won) provided support.
• Kim Jang-yeol and Lee Kwon-hee argued the crash was supply-driven, not fundamental, and recommended staying invested, with Samsung and SK Hynix seen as cheap relative to Micron.
• Lee Kyung-min emphasized that earnings and economic fundamentals remain solid, calling the drop a short-term adjustment and a buying opportunity; she raised the KOSPI year-end target to 11,500.
• Kim Jang-yeol highlighted that Samsung Electronics and SK Hynix are now trading at historically wide discounts to Micron, reinforcing the attractiveness of the memory leaders.
• Hwang Ui-hyeon recommended brokerage stocks like Kiwoom Securities, citing record commission and interest income driven by high retail trading volumes and margin balances.
• Lee Kyung-min noted that KOSDAQ is deeply undervalued and could rebound when interest rates stabilize, with the KOSDAQ upgrade program as a potential catalyst.
• All speakers viewed the correction as healthy consolidation within a strong uptrend, expecting rebounding semiconductor stocks to lead the next leg higher.