In the past, when there were issues related to shortages of electricity, we saw a cycle of about 6 years. Compared to global peer groups, the performance levels of power equipment companies in Korea are much better. Companies like Hyundai Electric have now reached a level almost similar to that of second-tier companies. Depending on how Korean policies are implemented, the momentum itself can change. In fact, the domestic and overseas markets are completely different. The early-year rally, which was somewhat hesitant, is gaining momentum again with the positive news of the 41 trillion won investment in the power sector. Let's analyze the related contents and take a look at the stocks we need to keep an eye on. I am here with Director Ha Chang-hwan from Hermes Star. Hello. Hello, how are you? Stocks related to the 41 trillion won transmission network construction project seem to be showing strong performance.

There was a bit of hesitation and adjustment in the pattern, so could you please explain the related content and meaning first? Well, in a way, you could say that this issue emerged as a bit of a savior for power-related devices. When this issue arose, on that day, a new coverage report on Hyosung China, HD Hyundai Electric, was released, and the target price actually came out quite aggressively compared to the closing price at that time. Consequently, as there was already a bit of a rebound in the situation, when this 41 trillion issue suddenly emerged, it was like, What is this? There is still a lot of upward momentum due to these kinds of issues, but the problem is that, as you know, it doesn't have legal binding force. Therefore, there are parts where this could collapse at any time, so this issue is more of a short-term one.

Watching Momentum Play seems appropriate, and actually, looking at things other than the story is correct. Basically, in the U.S., there is a cycle of replacing old toilets every ten years, and there is still a lot of demand for it, so you should pay attention to that. Next, recently, issues related to the generation of energy itself are arising, such as violence and solar energy. Similarly, with nuclear power generation. However, after creating such things, the electricity needs to be transferred. For that to happen, excess transformers are needed again. But the installation volume is increasing explosively not only in the U.S. but also in Europe. This is an environment where the consumption demand for electricity will inevitably increase, so you need to pay attention to this. Additionally, there are issues in the U.S.-China conflict.

Due to this, infrastructure expansion in China will continue until 2026. This expansion will now extend to neighboring countries over the next 27 years. Therefore, due to conflicts between the United States and China, new cables need to be laid in new areas, and energy movement needs to be created. As a result, the region itself is undergoing significant expansion. In addition, in terms of the Northeast Asia region, if we want to restore the power struggle in the Russian region, of course, electricity is needed. The same goes for the Middle East. There is so much momentum right now that you don't need to focus too much on geopolitics. You should consider the flow of basic industries and the fact that there is still a lot of room for industrial growth. When looking at the cycle of past power shortage issues, it took six years. From that perspective, there is still a lot of room for industrial growth, and the difference between then and now is...

The amount of electricity consumption itself is overwhelmingly different from 15 or 20 years ago. So, in these AI data centers where companies like Apple and Google are globally leading, if the demand for electricity increases due to operations such as open source, will this explosion be similar to the growth of past industries? No, it will be even greater. Therefore, in this regard, there is still plenty of room for growth, but we need to be cautious about the issues and the significant gap between the monthly and weekly electricity bills due to technological advancements. It is a situation where we need to be careful about short-term differences. It would be good to summarize. Even CEOs are facing serious debt issues in the United States. However, resolving these debt issues will require a huge amount of electricity, especially when looking at electric cars in the United States.

Bitcoin mining and such require a tremendous amount of electricity. In the case of the United States, there is a shortage of it. However, this issue is not unique to the U.S.; countries worldwide are facing the need for investment in their power grids. As discussed in previous broadcasts, the analysis of power equipment was thorough. In the future, we need to keep an eye on the momentum. For example, the demand for renewable energy is expected to increase significantly. This sector has been steadily rising for quite some time, not just in the short term. Therefore, this issue has already been exposed. Looking at the current stock price levels, in the past, there was a story where the PR level of Korean power equipment companies was not as good as that of global peer groups.

The gameplay has progressed, and now, in the case of HD Hyundai Electric, it has become almost similar to the 2nd generation. So, now, we need to visually confirm the trends of industrial growth to see, Ah, this growth percentage hasn't ended yet, and identify situations where we need to confirm. Therefore, now you need to check the export data for MOM, and then you can see the trend for orders received. In the past, the cycles of this industry and momentum were so strong and long-lasting that there weren't really any major issues with just buying at any time. But from now on, it seems that we have reached a point where we need to examine these data more carefully. The 11th power supply plan has been released in Korea, and now, in terms of nuclear power generation and SMR.

A new topic has been introduced, and then another topic will be discussed, which is related to power transformation and transmission. Depending on how it is approached, the momentum itself can vary. In fact, domestic and overseas situations are completely different. In overseas cases, companies like HD Electric, Hyundai Heavy Industries, LS Electric, etc., are mainly focused on high-voltage and transformer-related areas. On the other hand, in South Korea, when it comes to the power sector, companies like Jaeryong Industrial and Jaeryong Electric are more influential, of course. Starting from companies like Semung Electric, various companies have an impact as we move domestically. Therefore, you should pay attention to the fact that there may be differences in such aspects. Next, in terms of power conversion, as I mentioned earlier, due to the US-China conflict, the situation in the region is changing. In this regard, the relevance to submarine cables will definitely expand.

There are only two companies that are essential in Korea, LS Cable & System and Daehan Electric Wire. When it comes to that momentum, it is necessary to divide them into three categories because groups and industries are clearly divided into sectors. Checking up to that point would be sufficient. In the power sector, if we still have to pick a favorite, as we have done before and will continue to do so in the future whenever there are broadcasts, the starting point is definitely Hyundai Electric. This is inevitable. In the power industry, regardless, these trends related to the exchange cycle and parts of renewable energy need to be sent out no matter what momentum is seen. Therefore, the demand for these transformers will inevitably be the highest. That's why it holds the greatest momentum in that regard and is exporting the most from the United States.

There are a lot of orders for HD Hyundai Electric, so the benchmark should be to look at this stock. However, as I mentioned earlier, if various issues related to the industry are currently scattered, then depending on those issues, the main stocks can change. So, if it is said to be domestic, it would be appropriate to look at stocks like Jae-ryong Industry. If you look at the ship cable, you should look towards the LS Group. Therefore, you need to divide and look in that direction. So, if you oversee it, you can say that it is the leader of HD Hyundai Electric, but depending on the issues that are drawing attention, the leader may change, so you need to be flexible in changing the benchmark.

I would like to emphasize a bit. Understood. Please refer to the information I provided today and I hope you will have a successful investment. Thank you for today's words. Thank you.

전력기기 과거와 차원이 다른 수요 폭발한다! 호재에 따른 종목 차별화 '이렇게' 보세요 ㅣ 하창완 본부장 [찐코노미]

스크립트