SK hynix ADR listing to trigger revaluation of Korean chipmakers, Mirae Asset says

"SK hynix's listing of American depositary receipts will be a pivotal moment that can broaden its global investor base and drive a revaluation of Korean chipmakers."

Mirae Asset Global Investments made the remarks Monday at a webinar hosted on the TIGER ETF official YouTube channel "Smart Tiger," focusing on semiconductor market conditions and investment strategies surrounding the SK hynix ADR listing.

The firm projected that about 7 trillion won ($4.53 billion) in passive funds could flow into SK hynix if the stock is included in major global semiconductor indexes following the ADR listing. SK hynix is scheduled to list its ADR on the Nasdaq on July 10.

Mirae Asset also forecast that the ADR listing would lead to a broader revaluation of the company. "In the case of TSMC, when its ADR traded at a premium to the underlying shares, the underlying shares moved to close the gap," the firm said. "TSMC also underwent a valuation re-rating after its ADR listing."

On the semiconductor industry outlook, Mirae Asset said competition in next-generation HBM has entered full swing. Samsung Electronics became the first company in the world to supply samples of 12-layer HBM4E, while SK hynix has been accelerating its development schedule to compete for an early lead in the next-generation HBM market.

Mirae Asset also introduced TIGER ETFs suited to different investment objectives. It highlighted the TIGER Semiconductor TOP10 ETF as its flagship product, with Samsung Electronics and SK hynix together accounting for about 62 percent of the fund.

For investors seeking broad exposure to the AI value chain, the firm recommended the TIGER 200 IT ETF as an alternative. The fund's core holdings are SK Square at 26 percent, SK hynix at 25 percent, Samsung Electro-Mechanics at 17 percent, and Samsung Electronics at 16 percent. Based on Friday's closing price, the ETF posted a three-month return of 134 percent.

For investors looking to capture both semiconductor growth and dividend income, Mirae Asset recommended the TIGER Semiconductor TOP10 Covered Call Active ETF. The fund holds Samsung Electronics and SK hynix at high weightings while using individual stock option premiums to pay monthly distributions.