Mirae Industry on Korea Invest Insights

Korea Quality Re-Rating Watch 2026-06-30: Daeduck, Kolmar & Mirae — AI Memory Cycle

Tue, 30 Jun 2026 16:30:00 +0900

Macro Dashboard

Indicator	Value	5D Change	Signal
KOSPI	8,476.5	+0.1%	Flat
KOSDAQ	916.2	+0.8%	Flat
USD/KRW	1,551	+1.0%	KRW soft
VIX	17.4	−6.3%	Stable
Brent	$74.0	−1.7%	Steady
US 10Y	4.37%	−0.12pp	Easing

Regime: KR Bear / US Bull. Korean breadth above the 50-day MA sits at just 13.3% versus US breadth above 52%, maintaining the KR/US divergence. Program selling of −2,708.6B won and ETF net creation of −1,927.0B won confirm passive de-risking persists at the index level despite pockets of sector strength.

Market Wrap

June 30 was a session of selective conviction, not broad recovery. KOSPI barely moved on a five-day basis while a tight cluster of AI memory and semiconductor equipment names drove the real action.

Samsung Electro-Mechanics (009150.KS) was the standout large-cap mover, closing at 2,184,000 won (+7.2% on the day, +9.7% five days). Foreign buying of +427.3B won and institutional buying of +210.8B won arrived in unison around a DART-filed single-supply contract disclosed this morning — an unusually clean catalyst-plus-flow combination for the current Bear regime. Program buying added a further +387.3B won.

Samsung Electronics (005930.KS) closed at 334,000 won (+3.4%), where domestic institutional demand of +912.5B won absorbed sizable foreign selling of −871.9B won. SK Hynix (000660.KS) ended at 2,650,000 won (+0.8%) on a similar pattern: institutions provided +757.7B won while foreign outflows hit −1,579.9B won.

Three headline catalysts concentrated volume into Memory/HBM names: TrendForce raised its DRAM contract price forecast, SK Hynix flagged LTA negotiations with no defined price ceiling, and both Samsung and SK disclosed major semiconductor capex commitments via official regulatory filings. The AI memory and CPO cluster logged 46 Telegram and news mentions today — the highest count of any monitored theme by a wide margin.

Beneath the leadership, breadth remained thin. Only 36 of 2,710 KR universe stocks passed quality regime filters, with 13 new entries today. The regime remains Bear. The session’s message: identify the few names where institutional conviction is building, not call a market turn.

Today’s Quality Re-Rating Candidates

Today’s meta screener processed 86 tickers through five layers — Quality Compounder (QC), Smart Money Quality (SMQ), Cycle Rerating (CR), Smart Money Earnings (SME), and PEAD — and ranked 20 candidates. Names appearing in 3+ screeners lead the table.

Rank	Ticker	Name	Meta Score	Overlap	Screeners Hit	Key Metrics
1	353200.KS	Daeduck Electronics	88.4	5	QC · SMQ · CR · SME · PEAD	ROE 5.3% · OP YoY +336% · Margin +3.4pp
2	161890.KS	Korea Kolmar	88.1	4	QC · SMQ · CR · SME	ROE 14.7% · OP YoY +24% · Short int 9.8%
3	025560.KS	Mirae Industry	80.6	3	QC · SMQ · SME	ROE 8.9% · NI YoY +53% · DART catalyst today
4	420770.KS	Gigavis	66.4	2+Rev	QC · CR · Consensus Up	OP YoY +777% · Margin +29.9pp · Short int 7.9%
5	064850.KS	FnGuide	65.1	2+Rev+PEAD	QC · CR · Consensus Up · PEAD	ROE 15.1% · OPM 30.1% · Rev z-score +1.11
6	009150.KS	Samsung Electro-Mechanics	64.3	3	SMQ · CR · SME	RS 99.6 · Contract filed today · +7.2%
7	095610.KS	TES	63.7	3	QC · SMQ · SME	ROE 14.5% · OP YoY +50% · 5D smart money −39B
8	000660.KS	SK Hynix	59.1	3	QC · CR · PEAD	ROE 35.6% · OP YoY +101% · Foreign net −12T

Gigavis and FnGuide rank above some 3-overlap peers in the meta because upward consensus revisions (z-scores +0.96 and +1.11 respectively) add a forward-looking catalyst dimension that the flow-based screeners alone cannot capture. Samsung Electro-Mechanics falls below them in meta score because it lacks the QC baseline, though today’s price action and DART filing make it a strong market-context candidate regardless.

Daeduck Electronics (353200.KS) manufactures printed circuit boards and is the only name in today’s universe to clear all five screener layers. Operating profit surged +335.7% YoY on +3.4pp of margin expansion, with revenue growing +19.4%. The flow setup is what makes the story credible in a Bear regime: retail sellers provided −539.6B won over five sessions while foreign and quality-institutional capital absorbed it, netting +465.6B won in. RS percentile is 98–99 across every screener. A DART block-share disclosure filed June 18 signals ownership change at scale. The key question to resolve: whether the margin recovery is structural — driven by product mix and customer tier — or a low-base one-quarter effect.

Korea Kolmar (161890.KS) is a contract cosmetics (ODM) manufacturer with deepening exposure to K-beauty export demand. ROE of 14.7% and +23.6% YoY operating profit growth place it squarely in the Quality Compounder tier. Institutional money has been accumulating: +237.0B won net over five days against −292.8B won in retail selling. Three IR events filed in three weeks suggest active investor engagement. Caution: short interest of 9.8% and a debt ratio of 107.4% mean any guidance miss carries asymmetric downside. Program flows are currently −7.5%, worth tracking.

Mirae Industry (025560.KS) makes precision testing and measurement equipment and ranks first in both the Smart Money Quality and Smart Money Earnings screeners — the strongest institutional-plus-earnings signal combination in today’s run. Net income grew +53.0% YoY. Two supply-contract amendments were filed via DART today, providing a same-day official catalyst. At 16.7x trailing P/E with RS above 98, the valuation and momentum setup is attractive. One flag to investigate: operating profit declined −24.8% YoY while net income grew sharply, suggesting a non-operating item is flattering the bottom line. That divergence needs reconciliation before the case is clean.

Also flagged: PSK Holdings (031980.KS) sits at the Quality Compounder and Smart Money Quality intersection with RS above 95. BVM (089970.KS) shows extraordinary operating leverage (+386.9% OP YoY, +29.3pp margin expansion) with an upward consensus revision (z +0.78), but 5-day institutional and foreign flows remain net negative — a potential setup worth revisiting if that flow picture turns. Wonix IPS (240810.KS) rounds out the quality-cycle 2-screener group with strong capex-cycle exposure.

Korea Quality Re-Rating Watch: Gigavis, Mirae Industry, VM

Mon, 29 Jun 2026 16:30:00 +0900

Korea Quality Re-Rating Watch 2026-06-29: Gigavis, Mirae Industry & VM — KOSDAQ Sidecar Day, Institutional Bid Stays Selective

Macro Dashboard

Indicator	Level	Today	5D Change
KOSPI	8,394.65	-0.20%	+2.3%
KOSDAQ	911.32	+7.04%	+3.3%
USD/KRW	1,543	—	+0.3%
VIX	18.22	—	-6.5%
Brent	$72.95	—	-1.1%
US 10Y	4.37%	—	-14bps

Regime: Korea — Bear | US — Neutral

Market breadth remains the defining constraint: only 12.6% of Korean stocks trade above their 50-day moving average, and 22.3% above their 200-day. Week-level index gains are real but narrow. Program selling hit ₩4.8 trillion today; ETF net creation of ₩2.9 trillion provided partial cushion. Futures basis of +13.96 signals no acute stress, but the Korea Bear / US Neutral divergence keeps the tactical stance defensive.

Market Wrap

Today’s Korea session split cleanly in two. KOSPI fell -0.20% to 8,394.65 as Samsung Electronics (005930.KS) dropped -4.9% and SK Hynix (000660.KS) declined -1.7%, both hit by synchronized foreign and program selling. The two names combined absorbed roughly ₩7.2 trillion in five-day foreign outflows. Institutions stepped in as partial buyers but could not absorb the scale.

KOSDAQ told the opposite story, surging +7.04% to 911.32 — a move large enough to trigger a buy-side sidecar. Biotech, secondary battery, and smaller growth stocks drove the move. 한올바이오파마 (009420.KS) was the headline momentum name, up +19.4% on the day and +39.3% over five sessions. The character of the KOSDAQ rally looks like sector rotation — money rotating away from KOSPI large-cap semiconductors — rather than a new fundamental catalyst opening up. Breadth across the KOSDAQ was better than the KOSPI, but this is a low bar given the narrow state of the overall market.

The macro backdrop adds a layer of structural support for the semiconductor thesis even as the day’s price action was negative for the sector’s largest names. Korea’s government reiterated a plan to invest ₩800 trillion in a southwest memory fabrication complex, ₩81 trillion in HBM packaging capacity in the Chungcheong region, and over ₩1,000 trillion in AI datacenter build-out through 2035. These numbers anchor the long-horizon case for memory and AI supply-chain companies. They do not, however, resolve the near-term foreign selling pressure in Samsung Electronics and SK Hynix.

Also circulating in today’s flow: DRAM supply-reduction and HBM transition-related legal noise. The signals are not indicative of confirmed litigation or earnings damage — they read as the kind of regulatory overhang that tends to appear when a cycle is running hot. Worth noting; not thesis-level.

One clean takeaway from today: this is a selective market, not a broad one. KOSDAQ’s +7% sidecar is a rotation signal. The semiconductor thesis is intact structurally; the short-term flow is complicated.

Today’s Quality Re-Rating Candidates

The KR Meta Screener ranked 83 tickers today. The framework prioritizes names appearing in two or more screeners simultaneously, with the strongest signal coming from the Quality Compounder + Smart Money Quality combination and the Quality Compounder + Cycle Rerating pairing.

Top Overlap Candidates

Meta Rank	Ticker	Name	Meta Score	Screeners Hit	Overlap	RS
1	420770.KQ	기가비스 (Gigavis)	75.4	Quality Compounder, Cycle Rerating, PEAD, Consensus Up	3+	98.3
2	025560.KQ	미래산업 (Mirae Industry)	71.4	Quality Compounder, Smart Money Quality, Smart Money Earnings	3	97.1
3	089970.KQ	브이엠 (VM Co.)	52.8	Quality Compounder, Cycle Rerating	2	98.2
4	000660.KS	SK하이닉스 (SK Hynix)	47.4	Quality Compounder, Cycle Rerating	2	98.9
5	005930.KS	삼성전자 (Samsung Electronics)	45.5	Quality Compounder, Cycle Rerating	2	96.3
6	080220.KQ	제주반도체 (Jeju Semiconductor)	41.4	Quality Compounder, Cycle Rerating	2	98.5
7	402340.KS	SK스퀘어 (SK Square)	40.5	Quality Compounder, Consensus Up Revision	2	99.0

Top 3 Candidates in Detail

#1 — 기가비스 (420770.KQ) | Meta Score 75.4 | Five Screeners

Gigavis makes optical inspection equipment used inside semiconductor and display manufacturing lines. It is the only name today to clear five screeners simultaneously — Quality Compounder, Cycle Rerating, PEAD, Consensus Up Revision, and the Kiwoom Market Surface overlay. The earnings signal behind this is unusually sharp: operating profit grew +777% year-over-year, revenue +101%, and operating margin expanded +29.9 percentage points. The PEAD module gives it a Tier A score of +1.56, meaning the post-earnings drift signal has not yet been fully absorbed into price. Today’s close was ₩175,500, with a five-day gain of +10.2%. The Meta Screener places it first on score strength, which overrides the raw overlap ranking. Key risk to verify: the PER of 136x is pricing in substantial continued growth, and foreign net buying needs to confirm after today’s broader market selling.

#2 — 미래산업 (025560.KQ) | Meta Score 71.4 | Three Screeners

Mirae Industry manufactures semiconductor handler and test-related precision equipment. Today it is the only stock in the entire 2,712-name Korean universe to simultaneously clear both the Smart Money Quality screener and the Smart Money Earnings screener — the tightest filters in the framework. RS percentile is 97.1. The five-day institutional and foreign net buying of ₩2.1 billion, occurring while retail was net selling ₩2.6 billion, is exactly the kind of flow divergence this screen targets. A DART supply contract filing (단일판매·공급계약체결) on June 23 adds a concrete catalyst to the quality + flow combination. Revenue grew +88.1% year-over-year; operating profit declined -24.8%, a compression flag to watch. Short interest at 5.3% is a caution but not a disqualifier. Next check: whether the supply contract is material enough to drive consensus revisions higher.

#3 — 브이엠 (089970.KQ) | Meta Score 52.8 | Two Screeners

VM Co. makes CVD and deposition process equipment for the semiconductor industry. ROE is 14.8%, operating margin expanded +29.3 percentage points, and operating profit grew +387% year-over-year. Both Quality Compounder and Cycle Rerating screens confirm it. The caution is direct: foreign and quality-institutional investors net sold ₩38.4 billion over five days, with retail providing only partial offset. A June 23 DART supply contract filing suggests the order cycle is active. This is a name where the business fundamentals are re-rating clearly, but institutional money flow has not yet turned positive. Monitor for flow confirmation before treating it as a strong entry candidate.

A note on screener scarcity today: The Smart Money screens were extraordinarily tight — one pass each out of 2,712 stocks for both Smart Money Quality and Smart Money Earnings. Both passes were the same name: 미래산업 (025560.KQ). In an environment where breadth is at 12.6% above the 50-day moving average, that level of filter selectivity makes the double-pass a meaningful signal, not noise.

All data sourced from KR Meta Screener, KR Close Briefing, and Macro Regime outputs dated 2026-06-29. Market analysis only — not investment advice.