Youngho Kim is an analyst at Samsung Securities, which is headquartered in Seoul, runs offices in Beijing and Tokyo, and operates representative offices in Hong Kong, New York, and London. Youngho received a Bachelor’s degree from California State University (Fullerton Campus) in Business administration and joined Samsung Securities in Feb 2012. He started his career in the Strategic Planning Team, and for two years took charge of investor relations and domestic business strategy planning. In Feb 2014, he moved to the Research Center, supporting an analyst who covered the cosmetics and transportation sectors. After working for two years as a research associate, he was promoted to junior analyst and started to cover the transportation sector in Mar 2016. Mainly focusing on Korean airliners, he has covered the transportation sector for more than two years. Currently, Youngho’s coverage spans three airline companies (Jeju Air, Korean Air, and Asiana Airlines), one shipping firm (Pan Ocean), and one logistics player (CJ Logistics). Although the Korean air passenger market is highly competitive (it is composed of eight passenger carriers, breaking down as two full-service carriers (FSCs) and six low-cost carriers (LCCs)), structural outbound growth has led to robust air passenger expansion, thus supporting the large number of firms. Youngho has been paying close attention to first generation LCCs in Korea, believing that they will prove to be the largest beneficiaries of Korea’s structural outbound growth. He has placed Jeju Air, the first LCC in Korea, as his sector top-pick since initiating coverage on the firm. Combined sales at Korean LCCs in 2017 were twice what they were in 2012, while combined sales at FSCs were 1.5% lower, showing that market growth during the period has revolved around the LCC segment (which focuses on short-haul routes). He still believes that market polarization—the increasing presence of LCCs on short-haul routes and the strategic focus of FSCs on long-haul routes—will deepen further and that the overall market share held by Korean LCCs will continue to expand.