Suddenly Erupted Huge Tailwind... How Far Can NAVER, Kakao, and Kakao Pay Rise? 'My Top Pick Is This' | CEO Lee Kwon-hee

갑자기 터진 역대급 호재.. 네이버,카카오, 카카오페이 어디까지 오를까? "제 마음 속 탑픽은 이 것"ㅣ이권희 대표

Watch on YouTube ↗ | January 23, 2026 at 23:30 | 22:46 | 815 Money Talk (815머니톡)

Speakers

Lee Kwon-hee — CEO, Economist

Summary

Lee Kwon-hee, CEO of WizWave, discusses the rally in Korean internet and fintech stocks driven by expectations for stablecoin legislation. He favors NAVER as a top pick and sees Kakao Pay as the fastest direct beneficiary, with LG CNS, KOSDAQ, IT security, STO-related names, and Korean government bonds as secondary beneficiaries. He also explains why payment stocks are rallying but says he lacks conviction there.

Stablecoin legislation is expected to resume in the first quarter, with licensing and reserve requirements.
NAVER is preferred for its Google-like structure, undervaluation, and Dunamu/Upbit synergy.
Kakao Pay is seen as the most direct and fastest-moving beneficiary.
LG CNS is viewed as a key security and infrastructure provider for stablecoin systems.
KOSDAQ and Korean IT security stocks may benefit from broader fintech participation.
STO legislation is expected to advance alongside stablecoin rules; Galaxia Money Tree is highlighted as prepared.
Korean government bonds could see new reserve demand from stablecoin issuance.
The speaker is skeptical of the payment-stock rally and offers no strong view there.

Ideas

Lee Kwon-hee CEO, Economist 6:54

NAVER top pick; stablecoin value-up.

Lee prefers NAVER over Kakao with high conviction because its business and ownership structure is Google-like, with fewer separately listed affiliates. He sees NAVER as undervalued relative to Kakao, with steadily rising earnings, and argues that NAVER Financial's merger with Dunamu and Naver Pay's potential stablecoin issuance could create fee savings and Upbit synergies. Optionality from AI, GPUs, and robotics plus stablecoin legislation could drive a value-up and a breakout above the 275,000 won box top, especially if the bill passes around March.

Lee Kwon-hee CEO, Economist 8:24

Stablecoin reserves add KTB demand.

Stablecoin issuers must hold 100% reserve assets. If Korea follows the U.S. model, reserves would likely be Korean government bonds, creating a new source of demand for KTBs. Lee notes Korean government bonds are stable alongside U.S. Treasuries.

Lee Kwon-hee CEO, Economist 10:40

Direct stablecoin beneficiary; fastest mover.

Kakao Pay is the most direct listed beneficiary of stablecoin legislation and likely the fastest mover, because it is a pure-play payment platform separated from Kakao. After a sharp pullback, its chart looks better, and if it rises it should also lift KakaoBank and parent Kakao. Lee says the simple trade is Kakao Pay first, then NAVER.

Lee Kwon-hee CEO, Economist 10:59

Kakao Pay lifts Kakao, KakaoBank.

Kakao Pay's success should indirectly benefit KakaoBank and parent Kakao: if Kakao Pay improves, the bank and the holding company improve. However, Lee views Kakao Pay as the more direct exposure and says buying Kakao Pay is the correct simple approach.

Lee Kwon-hee CEO, Economist 15:19

Stablecoin law lifts KOSDAQ.

If stablecoin legislation expands participation by fintech and non-bank companies, KOSDAQ should benefit because more related companies, security firms, payment platforms, and new investment themes would emerge. Lee says this can lift KOSDAQ, especially since many of the related small-cap and security companies are listed there.

Lee Kwon-hee CEO, Economist 17:11

Stablecoin drives Korean security demand.

Stablecoin adoption makes security critical because if the security layer fails, the entire stablecoin system fails. Lee expects IT security demand to strengthen, new security businesses to appear, and notes that Korean security companies are mostly listed on KOSDAQ, making them a thematic beneficiary.

Lee Kwon-hee CEO, Economist 17:24

Stablecoin security gatekeeper.

Stablecoin systems require secure issuance and distribution infrastructure. Smaller companies that want to participate but lack blockchain technology would need to use LG CNS, which has experience building and distributing related systems. Lee calls LG CNS the final gatekeeper that locks down the theme.

Lee Kwon-hee CEO, Economist 21:17

Prepared small STO beneficiary.

Galaxia Money Tree is a small company that has prepared heavily for STO. It has struggled while legislation was delayed, but if the legislation passes quickly, it could attract interest as a prepared STO beneficiary.

Lee Kwon-hee CEO, Economist 21:29

STO expands with stablecoin.

Lee expects STO legislation to pass alongside stablecoin legislation, because STO fractional investment and stablecoin infrastructure are complementary. He says investors should watch STO-related stocks as the market expands.

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This 815 Money Talk (815머니톡) video, published January 23, 2026, features Lee Kwon-hee discussing 035420.KS, Korean government bonds, 377300.KS, 035720.KS, 323410.KS, KOSDAQ Index, Korean IT security sector, 064400.KS, 094480.KQ, Korean STO-related stocks. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Lee Kwon-hee · Tickers: 035420.KS, Korean government bonds, 377300.KS, 035720.KS, 323410.KS, KOSDAQ Index, Korean IT security sector, 064400.KS, 094480.KQ, Korean STO-related stocks