Park Yongjin: "We Need More Research and Technology Investment"
As Samsung Electronics' stock price surpassed the 100,000 won mark for the first time ever, former Democratic Party lawmaker Park Yongjin stated, "In the era of artificial intelligence (AI), I will support Samsung Electronics as it leads innovation."
On the 27th, when the KOSPI index surpassed the 4000 mark for the first time ever based on the closing price, the stock prices of Samsung Electronics and SK Hynix were displayed at the Korea Exchange in Yeongdeungpo-gu, Seoul. On that day, Samsung Electronics closed at 102,000 won, and SK Hynix closed at 535,000 won. Photo by Yonhap News
On the 27th, Park wrote on his Facebook page, "Samsung Electronics has finally become a '100,000-won Samsung.' It has been exactly one year since I bought Samsung Electronics shares, not only to criticize the unfair and illegal actions of the Samsung owner family, but also to support the company itself."
He added, "However, this performance is largely due to favorable conditions in the semiconductor market. I hope this will be an opportunity for more research and development, technological investment, and new business planning, so that Samsung Electronics can further solidify its foundation for growth as a global company."
He continued, "If Samsung Electronics can break free from being like a brick factory that only gets busy when the real estate and construction markets are doing well, investors' trust in the company will become even stronger."
Former lawmaker Park Yongjin is being interviewed by The Asia Business Daily at Gangbuk Future Research Institute in Gangbuk-gu, Seoul. Photo by Jo Yongjun
Park previously revealed that he purchased shares of Samsung Electronics on October 17 last year. At that time, on his social media, he said, "Samsung Electronics' stock price is falling, but I bought it. For my first-ever stock purchase, I invested a considerable amount of money." He emphasized, "I want to show trust when everyone else is talking about Samsung's crisis. My hope that the company leading the national strategic industry will do well remains unchanged." At that time, the closing price of Samsung Electronics was 59,700 won. Compared to the closing price of 102,000 won on this day, the stock has risen by about 71%.
He went on to say, "I will continue to monitor and criticize anti-business and anti-social behavior resulting from the mistakes of the Samsung owner and top management. However, I will wholeheartedly support the continued success of Samsung Electronics, together with its shareholders and employees, as a proud Korean company."
Park served as a lawmaker in the 20th and 21st National Assembly. Known as the "Samsung sniper," he spearheaded the so-called "Samsung Life Insurance Act" (a partial amendment to the Insurance Business Act), which changed the criteria for calculating the holding limits of insurance companies' affiliates' bonds and stocks to fair value (market price) during the last session of the National Assembly.
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