Former Chungju City official Kim Sun-tae revealed he sold over 1,000 Samsung Electronics shares at 62,000 won per share after purchasing them at 58,000 won in October 2022. In an interview published July 23 on the YouTube channel 'KBS Entertain' for the new variety show 'Don Sun-tae Success Era,' Kim explained he sold his entire position due to frustration with the stock's prolonged sideways movement lasting over two years. Kim, who gained fame operating Chungju City Hall's official YouTube channel before departing in February and launching a personal channel that reached 1 million subscribers in three days, had invested funds from selling his home into the Samsung Electronics position.
Kim Sun-tae Purchased Samsung Electronics Shares at 58,000 Won in October 2022
Kim disclosed details of his stock account that he had previously revealed through a broadcast in October 2022. "At that time, I was a major shareholder of Samsung Electronics. I held over 1,000 shares at around 58,000 won," Kim stated. He explained he had sold his house and moved to a rental property, investing all available funds into the Samsung Electronics position.
Kim sold his entire holding at 62,000 won per share after the stock experienced an extended period of sideways price movement. "You probably don't remember, but the sideways movement was extremely long at that time. After more than two years passed, I got so frustrated I couldn't stand it anymore," he said. Kim added that domestic companies kept conducting spin-off listings during that period, which he felt prevented the stock from rising, leading him to conclude that the Korean stock market wasn't viable and prompting him to sell everything.
Samsung Electronics Stock Price Reached 249,500 Won on July 24
According to the Korea Exchange, Samsung Electronics closed at 249,500 won on July 24, down 7.59% from the previous trading session. If Kim had retained the 1,000 Samsung Electronics shares purchased at 58,000 won until the current date, his initial investment of 58 million won would have grown to an evaluated value of 249.5 million won. The unrealized profit would amount to approximately 191.5 million won, representing a return of 330.2%.
Kim Sun-tae Joined Chungju City Hall in October 2016
Kim Sun-tae joined Chungju City Hall as a civil servant in October 2016, where he was responsible for producing and operating content for the city's official YouTube channel. In recognition of his contributions to raising the profile of Chungju City's YouTube channel, he was promoted to Grade 6 administrative officer after seven years of service and subsequently appointed as head of the New Media Team.
Kim departed from Chungju City Hall in February and launched his personal YouTube channel 'Kim Sun-tae,' which surpassed 1 million subscribers within three days of its opening.
FAQ
What price did Kim Sun-tae buy Samsung Electronics stocks at?
Kim Sun-tae purchased over 1,000 Samsung Electronics shares at approximately 58,000 won per share in October 2022, investing funds obtained from selling his home.
Why did Kim Sun-tae sell his Samsung Electronics stocks?
Kim sold his entire Samsung Electronics position at 62,000 won per share because he became frustrated with the stock's prolonged sideways price movement lasting over two years, and he believed domestic spin-off listings were preventing the stock from rising.
What return would Kim Sun-tae have earned if he kept his Samsung Electronics stocks?
If Kim had retained his 1,000 shares purchased at 58,000 won until July 24 when Samsung Electronics closed at 249,500 won, his investment would have generated an unrealized profit of approximately 191.5 million won, representing a 330.2% return.
