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Park Byeong-chang, CEO, discusses the 5 major core risks in the second half

Park Byeong-chang, CEO, talks about the 5 major core risks in the second half | Hong Seon-ae, Park Byeong-chang, MP Partners CEO [Yeouido Insight]
Watch on YouTube ↗  |  June 24, 2026 at 09:23  |  50:42  |  3PRO TV (삼프로TV)
Speakers
Park Byeong-chang — Director, MP Partners

Summary

Park Byeong-chang, CEO of MP Partners, reviewed the day’s market rally led by Samsung Electronics and institutional buying, then detailed five major risks for the second half: global equity overvaluation, US fiscal and long-term yield concerns, AI capex peak, inflation re-acceleration, and dollar strength. He argued that interest rates are the common thread and that a rate-freeze scenario would allow KOSPI to resume its uptrend. During the broadcast, SK Hynix’s ADR listing news was announced, which he interpreted as a near-term positive catalyst.

  • Samsung Electronics surged on heavy institutional buying, tipping supply-demand in its favor.
  • SK Hynix broke news of a Nasdaq ADR listing, triggering a 4% after-hours rally.
  • Five H2 risks were outlined: global overvaluation, US debt/yields, AI capex bubble, inflation, and dollar strength.
  • All risks converge on interest rates; the core call is whether central banks will hike.
  • The speaker expects rates to remain on hold, which would be bullish for KOSPI.
  • KOSDAQ remains unattractive with a broken chart and failed policy support.
  • The base-case view: KOSPI challenges new highs once rate-hike fears are removed.
Ideas
Park Byeong-chang Director, MP Partners 1:44
Institutions buying Samsung, supporting further upside.
Samsung Electronics saw heavy institutional buying across financial investment, trust, and pension funds, even as foreigners and individuals sold heavily. This institutional tilt provided the decisive force that pushed the stock higher and prevented further decline, suggesting that institutions are defending the stock and that further upside is likely as long as this buying continues.
005930.KS MED
Park Byeong-chang Director, MP Partners 9:05
Avoid KOSDAQ, chart broken, policies failed.
KOSDAQ’s chart is broken, with a year-to-date loss of -1.75% despite a 2% bounce on the day. The index remains well below key levels and does not invite buying. Activation policies have been ineffective, and the speaker advises avoiding KOSDAQ until there is a genuine rotation and supporting policy.
KOSDAQ MED
Park Byeong-chang Director, MP Partners 29:53
ADR news catalyst drives SK Hynix up.
SK Hynix announced an ADR listing on Nasdaq for July 10, raising up to 45 trillion won via third-party placement. This long-awaited positive catalyst, combined with the stock’s recent sharp drop, triggered a 4% after-hours surge. Although the capital increase is dilutive, the market reaction is clearly positive; the stock should trade on its strong earnings trend after the initial event.
000660.KS MED
Park Byeong-chang Director, MP Partners 43:30
Rate-freeze scenario drives KOSPI to new highs.
The five major H2 risks—global overvaluation, US fiscal deficit and rising yields, AI capex peak, inflation re-acceleration, and dollar strength—all fundamentally trace back to interest rates. The speaker expects rates to remain on hold due to a slowing economy, falling core inflation, and the Fed’s policy review task force that runs until year-end. If rate-hike fears dissipate, KOSPI will resume its uptrend and challenge new highs.
EWY HIGH
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This 3PRO TV (삼프로TV) video, published June 24, 2026, features Park Byeong-chang discussing 005930.KS, KOSDAQ, 000660.KS, EWY. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Park Byeong-chang  · Tickers: 005930.KS, KOSDAQ, 000660.KS, EWY