The Korean Discount Is The Most Overlooked Trade In The Market Right Now While everyone's chasing overpriced US tech, the smartest institutional money is rotating into Korean equities, and $EWY is the cleanest way to play it. Here's what you need to understand: Samsung and SK Hynix are trading at forward P/E of just 8.7x vs. the global tech average of 19x. You're buying world-class AI supply chain companies at literally half the price of their Western peers. Samsung and SK Hynix supply HBM memory to $NVDA. SK Hynix is the #1 HBM3E supplier in the world. These companies are at the center of the AI buildout and trading at a discount that makes zero sense. The Korea Discount Is Being Dismantled: The Korean government's Value Up program is forcing companies to improve shareholder returns, buy back shares, and close the gap between book value and market cap. The National Pension Service, the world's third largest pension fund with $1.1T in AUM, just raised their domestic equity target allocation to 14.9% in January 2026, creating a fresh $5B+ buy order for KOSPI stocks. They also suspended mechanical rebalancing for the first time in years, removing the ceiling on how high this rally can go. KOSPI already hit record highs of 5,800+ on February 20th. Don't fight the $1.1T whale. This is the Japan rally playbook. When Japan launched its version of this in 2023, the Nikkei ran 40%+ in a year. Korea is at the beginning of that exact same cycle. Why $EWY: Samsung: 26% weighting, the world's largest memory chip manufacturer. SK Hynix: 20% weighting, $NVDA's primary HBM supplier. You're getting 78% earnings growth projected this year from the underlying companies while paying 8.7x earnings. If Korean multiples re rate even halfway to global averages (from 8.7x to 14x), $EWY re rates 60%+ before earnings growth is even factored in. If you missed the Japan rally, this is your second chance. $EWY