Black Friday Crash... What Happened to the Korean Stock Market? / Excluding Samsung Electronics and SK Hynix, It's Virtually a Bear Market... We Need to Break the Vicious Cycle | Director Park Hyun-sang

Summary

Director Park Hyun-sang analyzes a severe Black Friday crash in Korean markets driven by Apple's drop, OpenAI IPO jitters, and leveraged ETF unwinding. He argues the semiconductor uptrend remains intact and the correction in Samsung Electronics and SK Hynix is a buying opportunity, while other Korean stocks are in a vicious bear market as investors rotate into those two names. He strongly warns against leveraged ETFs and advises installment buying on weakness.

• KOSPI dropped sharply led by 9%+ falls in Samsung Electronics and SK Hynix, triggered by Apple's 6% decline on memory price concerns and OpenAI IPO delay fears.
• The speaker believes the semiconductor cycle is unbroken and the sell-off is a chance to accumulate the two chip giants at cheaper levels using disciplined installment buying.
• Outside semiconductors, the rest of the Korean market is effectively in a bear market (30-40% down from highs) as cash-strapped investors sell other holdings to buy Samsung and SK Hynix, fueling a vicious cycle.
• Leveraged ETFs, especially 2x products tied to the two semiconductor stocks, are labeled as dangerous gambling tools that amplify losses and destabilize the market; the speaker urges investors to avoid them entirely.
• Regulatory action on leveraged ETF minimum deposit requirements is expected, which could reduce the products' market influence over time.
• The speaker recounts personal experience with leveraged derivatives and reiterates that sustainable winning comes from buying on weakness in tranches rather than all-in bets.