South Korea's memory sector ETF trades cheap amid fears, but fundamentals show stability and growth potential.

The iShares MSCI South Korea ETF (EWY) offers focused exposure to South Korea's memory chip sector, led by Samsung and SK hynix, with valuations currently well below historical averages. Despite the low price-to-earnings ratio of the KOSPI index at 4.54x forward, selling pressure continues due to fears reminiscent of the 1997 Asian financial crisis, retail investor leverage, and foreign capital outflows. However, key differences such as a stable South Korean won, strong export performance, and multi-year earnings visibility from memory chip backlogs suggest a more resilient outlook. The analyst rates EWY as a HOLD, monitoring the 150–125 price range and upcoming market catalysts for potential changes.

EWY trades at USD 159.71 on Pluang as of Oct 15, 2026 03:43 WIB, down 4.11% in one day. The ETF's market cap stands at $24.38 billion, reflecting significant investor interest. Typical holding time on Pluang is 48 days, with 57% of orders being sell orders, indicating cautious sentiment among traders.