Seong Sang-hyun, KBIZ Deputy Department Head, Caught on His Way Home and Falls for Byeoljubujeon's Charm | Executive Director Park Se-ik & KBIZ Deputy Department Head Seong Sang-hyun & Chesley Head of Learning & Department Head Jo Jae-wan [Byeoljubujeon / 26.08.29.Sat]

Summary

KBIZ Deputy Department Head Seong Sang-hyun joins the Byeoljubujeon panel and shares institutional macro and asset views. He sees September US liquidity and tax seasonality as a short-term equity risk but remains generally constructive, favors Korean memory semiconductor re-rating, and is bullish on Bitcoin and Ethereum/Solana. Park Se-ik adds a Halloween seasonal equity strategy and argues that inflationary US debt reduction makes stock ownership essential.

• Seong Sang-hyun explains September corporate tax payments drain private liquidity into the US Treasury, making equities vulnerable around mid-September unless markets have already corrected.
• He does not expect semiconductor operating profit to peak next year and sees Samsung Electronics and SK hynix re-rating on shareholder returns.
• He argues Treasury buybacks signal US intent to inflate away debt, supporting scarce assets like Bitcoin.
• He sees potential US regulatory clarity such as Clarity legislation as positive for Ethereum and Solana within the blockchain ecosystem.
• Park Se-ik outlines a Halloween seasonal strategy: stay defensive into mid-September, then buy stocks in late October and sell into July.
• Park Se-ik also argues that inflation eroding real US debt is a structural reason to invest in stocks.