KOSPI Plummets Due to Foreign Call Option Buying

While Nasdaq fell by about 1%, KOSPI overnight futures dropped more than 3%, indicating an overall negative market sentiment. Expert Lee Chang-won pointed out that the reason for KOSPI's particularly sharp decline was foreign investors artificially pushing up the index through call option purchases on the previous day's futures and options expiry date. This caused the artificially inflated index to return to its original level, impacting the market.

Recent oil prices hitting $109 have heightened market caution regarding the Consumer Price Index (CPI) announcement. However, since CPI is based on previous month's data, the recent surge in oil prices will not be immediately reflected. There is also a possibility that excessive market fear could turn into relief, leading to a sharp rise driven by bargain hunting. It is necessary to caution against excessive betting before the indicator is released.

This company possesses core technology that prevents volume expansion in silicon anodes. In particular, it has started supplying conductive additives for Tesla batteries through LG Energy Solution, and it also anticipates indirect benefits from the expansion of the robotics industry.

CNT conductive additives act as a 'magic powder' that suppresses the expansion of silicon anodes. This technology is a key factor in extending the driving range of electric vehicles and improving their fast-charging performance. In the electric vehicle market, driving range is the most crucial barometer for consumers. Existing luxury car brands have sometimes encountered performance-related issues during their transition to electric vehicles.

A smart actuator is a modular product that integrates a controller and a reducer into one, and Robotis's smart actuators possess this differentiation. Analysis suggests that if Korean companies sell integrated smart actuators rather than just separate components, they can secure sufficient competitiveness. Since 60-70% of automotive and robot components are shared, there is a possibility that automotive component companies expanding into the robot industry may see their market valuation readjusted.

As a result, robot sales this year are projected to expand from ₩800 million in the first half to ₩4 billion in the second half. There is also a high possibility that the company's market valuation will be positively readjusted as it transitions from an automotive parts company to a robot company.

The robot industry is forming an ecosystem similar to the vendor structure of the automotive industry. Just as Hyundai Motor's factories lead to a 1st, 2nd, and 3rd tier vendor infrastructure for automotive parts, the robot industry is expected to take a similar form in the future. Korean companies possess core technologies in robot motors, reducers, and controllers, and are anticipated to secure contract manufacturing opportunities from American companies as the military robot market grows.

Samhyun possesses integrated humanoid actuator technology that combines a motor, reducer, and controller into one. This actuator is a high-priced core component, accounting for over 30% of the total unit cost of a humanoid robot. In particular, the joints in the robot's hands are highly critical technologically and expensive, highlighting Samhyun's technological prowess as a competitive advantage in the market.

A strategy of buying during a pullback in robot stocks was suggested as effective. Expert Lee Chang-won emphasized buying during pullbacks like today's, adding that the commercial viability of robot companies is being proven by increasing demand for micro-ducts. Samhyun's target price was set at ₩48,000, with a stop-loss at ₩31,000.