High-conviction macro trade driven by corporate governance reform and the AI memory boom.

Expect short-term volatility in South Korean markets if aggressive rhetoric from North Korea resurfaces.

Viewed as a 'buying the dip' opportunity after a geopolitical-driven breather.

The ETF is up 45% YTD, driven by a semiconductor boom that the Bank of Korea believes will persist through at least 2026, though cyclical risk remains.

The South Korean stock market (KOSPI) was highlighted for its exceptional performance, having risen 72% last year, suggesting stronger growth opportunities outside the U.S. market.

An investment model shows 'very bullish trends' for the Korean ETF, indicating a favorable setup for cyclical and manufacturing-oriented trades.

Suggested as a potential value play to gain exposure to leading South Korean memory makers, as its holdings trade at a significant discount (8.7x P/E) to global tech peers (19x P/E).

Seen as a discounted way to play the memory supercycle via holdings like Samsung and SK Hynix, but with the caution that it is already up 38% year-to-date.

David Tepper bought 1.87 million shares, seen as a way to gain exposure to memory giants Samsung and SK Hynix and a broader bet on international growth.

Highlighted as a strong performing international market tied to manufacturing and cyclical growth, benefiting from a significant market rotation out of US equities.