Semiconductors Plunged, But Fundamentals Improved | Kim Jang-yeol, Head of Research Center, Unistory Asset Management [Global Interview]

Summary

Kim Jang-yeol discusses the semiconductor selloff triggered by macro fears, arguing fundamentals remain strong and recommending an opportunistic buying stance on Korean memory stocks. He highlights NAVER's AI data center expansion as a concrete catalyst with upside potential, while cautioning against panic selling and speculative chasing.

• The semiconductor selloff was macro-driven, not fundamental; key fundamentals (AI demand) remain intact.
• Micron's strong rebound and low valuation vs. Korean memory stocks suggests upside for Samsung and SK Hynix.
• Taiwan May sales data (Yageo, Gold Circuit, Quanta) confirm strong AI-related demand growth.
• NAVER announced detailed plans for a GPU-based AI data center, comparable to CoreWeave, with target price raised to 400,000 won.
• The speaker advises against selling on fear and recommends buying on weakness, especially in semiconductor names.
• Samsung SDS also has positive data center news but NAVER offers better valuation upside.
• Investors should watch CPI data later this week as a potential macro catalyst.
• The host and speaker discuss the importance of fundamental analysis over short-term noise.