CEO Kim Ji-eun's Analysis on Semiconductor and Export Stocks

The overall atmosphere in the stock market is discussed, emphasizing the impact of AI and semiconductor sectors on Samsung Electronics and Hynix.

### CEO Kim Ji-eun's Insights on the Current Stock Market
The stock market has been volatile, with AMD and NVIDIA experiencing significant fluctuations. The AI market is currently stabilizing, but there are concerns about supply potentially exceeding demand in the future. The semiconductor sector holds a significant share of the KOSPI index, and the performance of other sectors may struggle to support it, with the secondary battery sector being crucial.

### Samsung Electronics' Position in the Semiconductor Sector
Samsung Electronics is in a favorable position in the semiconductor sector due to the oversupply situation, while Hynix is facing pressure with continuously dropping stock prices. The company is expected to benefit significantly from the decline in the general memory semiconductor sector and is projected to outperform Hynix in terms of profit improvement.

### Impact of Raw Material Prices on Manufacturing Companies
The decline in raw material prices has led to substantial profit margins for manufacturing companies in the steel and chemical industries, especially in the production of high-value-added chemical products. This trend of improving spreads has been ongoing for the past two to three months, leading to adjustments in positions by foreign investors.

### Trend in Spread Margins and Foreign Investors' Positions
There has been a recent trend of improving spread margins in the chemical and steel industries, leading to a focus on certain chemical companies and shipbuilding companies by foreign investors who are currently adjusting their positions in semiconductors.

### Analyzing Current Trends in the Korean Stock Market
Raw material prices are falling, leading to a focus on industries with a spread margin between selling prices and raw materials, such as chemicals, shipbuilding, and steel. The KOSPI's PBR is below 1, indicating undervaluation, with the defense industry and companies like Samyang Foods showing strong performance. Samsung Electronics is expected to benefit from rising memory semiconductor prices, despite foreign investors' substantial investment and the need for profit.

### Challenges and Opportunities in the South Korean Stock Market
Hynix is making efforts to sell, while there is a need for Samsung Electronics and Hynix to change their approach. The secondary battery sector is experiencing strong investment sentiment, but stock prices have dropped, leading to investor disappointment. The South Korean government is facing calls to address the issue of capital gains tax and improve the investment environment to prevent further asset sell-offs.

### Challenges in the South Korean Domestic Economy
The domestic consumption in South Korea is struggling, with the 2030 generation giving up on work and staying at home, leading to a lack of driving force for consumption. The real estate market is continuously falling, pushing the disappointed investors towards stock investments, while the hope for a U.S. interest rate cut is significant. Even strong consumer stocks like FNF are facing challenges, losing a significant amount of their value due to the shaky domestic market.

### E-Mart's Financial Performance and Investment Opportunities
E-Mart's sales have stagnated around 30 trillion won, with a significant decrease in profits compared to the COVID period. The company is facing challenges in the domestic economy's recovery, with only 20-30% of its total sales coming from export stocks. Samyang Foods, on the other hand, with an 85% export ratio, offers a simpler investment opportunity. The beauty and medical devices sector shows promising export data diversifying into new regions, presenting potential investment opportunities.

### CEO Kim Ji-eun's Market Analysis and Investment Strategy for Q3 2022
* 📊  The semiconductor sector is stabilizing, with potential oversupply concerns in 2026, but current trends suggest **strong performance for AI-related companies in the short term**.
* 🔋  The **secondary battery sector** needs to recover quickly to support the KOSPI index, with EcoPro showing **positive signs in Q2**.
* 🏗️  Raw material prices are falling more than product selling prices in industries like chemicals and steel, **improving profit margins**.
* 📉  CEO Kim does not anticipate a **significant index increase** in the second half of 2022 due to various economic challenges, including **disappointing domestic consumption**.
* 🇺🇸  The potential U.S. interest rate cut in September could positively impact the market, but the domestic middle class, a key consumer group, is **facing economic challenges**.
* 📈  Samsung Electronics is expected to **outperform Hynix in terms of profit growth**, particularly in the **memory semiconductor sector**.
* 📊  CEO Kim advises focusing on **export-driven sectors**, particularly those with **strong and consistent data**, such as **power machinery, defense, and beauty/medical devices**.
* 💼  The CEO emphasizes the importance of a **clear government stance on financial policies**, including the capital gains tax issue, to **improve investor confidence**.

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