Summary of 왜 주식인가? Korea fund 존리 대표님(메리츠 자산운용) 1편

00:00:00 - 00:30:00

In the video, the speaker discusses several topics, including a change in dress code at their company, starting their own company and entering the Korean market, observations about financial institutions in Korea, the negative perception of stock investment among Koreans, the importance of investing in stocks, and the limitations of traditional societal expectations. The speaker highlights the need for innovation and creativity, and embracing challenges in order to succeed. They also urge the importance of financial education and making informed decisions based on long-term goals in order to achieve financial stability and comfort in the long run.

• 00:00:00 In this section, the video's speaker is discussing a recent change of attire within their company. They describe how the employees are now wearing more casual clothing and feel more freedom in expressing themselves. The speaker notes that this shift in dress code has sparked criticism from outsiders, particularly from individuals who hold to traditional, conservative South Korean fashion ideals. The speaker suggests that this change reflects a shift in thinking within the company, as they increasingly value innovation and creativity. They also mention that this change was not an easy decision, as it challenged deeply ingrained cultural norms and traditions. However, the speaker ultimately applauds the new trend as a positive shift for their company.
• 00:05:00 In this section, the speaker talks about why he wanted to start his own company and why he chose to expand into the Korean market. He explains that he initially thought about starting his own company because he wanted to do something more exciting after staying in one place for about 7 years. He also wanted to expand into Korea because he saw it as an opportunity to apply what he had learned in the United States to the Korean market. He discusses the challenges of setting up a company in Korea, such as the high capital requirements and complex regulations. Ultimately, he decided to join an existing company in Korea that he believed he could change and improve. Despite initial doubts, he had a positive mindset and was determined to make a difference. He emphasizes the importance of embracing challenges and not blaming others for failures, highlighting the need for personal growth and taking responsibility in order to succeed.
• 00:10:00 In this section, the speaker discusses his observations regarding the financial institutions in Korea. He points out that the focus of these institutions is not on the customers but rather on the executives, with the chairman being the central figure. He also reveals that there is not a single employee in Meritz Asset Management who invests in stocks, and it is surprising to him that even the Korea fund, managed by Meritz, uses employees' retirement pension as expenses. The speaker emphasizes the need for a change in the Korean society, where the majority of people rely solely on labor and have little understanding of capitalism. He argues that investing in stocks is important for financial freedom in a capitalist society, and he raises concerns about the future of the elderly population in Korea who may face poverty due to their lack of financial knowledge.
• 00:15:00 In this section, Jone Lee, the CEO of Korea Fund at Meritz Asset Management, discusses why many Koreans have a negative perception of stock investment. He attributes this mindset to the lack of education about capitalism in Korea, where people are taught to save money instead of investing it. Jone Lee also highlights the cultural beliefs surrounding money in Korea, where having wealth is often seen as something negative. He compares this to the United States, where Jewish education places significant emphasis on finance and wealth management. Jone Lee believes that in order for Korea to progress economically and create a middle class, the focus should be on educating young people about investing in stocks and encouraging them to become capitalists. He uses the example of how Korean celebrities receive negative attention when they discuss their investments, while in the US, even ordinary salary earners invest in different stocks and become wealthy over time. Jone Lee urges young people to overcome their fear and invest in stocks, emphasizing that stock investment is a path to becoming a capitalist and achieving financial success.
• 00:20:00 In this section, the speaker discusses the importance of investing in stocks and highlights the misconception that many Korean people have about the stock market. He mentions how during times of economic crisis, stocks become a bargain and should be seen as opportunities for investment rather than something to be avoided. He also comments on the mindset of many Korean individuals who view stocks as a form of gambling rather than a long-term investment strategy. The speaker argues that investing in stocks is crucial for building wealth, especially as one approaches retirement age, and emphasizes the need to start preparing for it early. He also criticizes the lack of financial education and the mismanagement of money by Korean housewives, asserting that their failure to understand the concept of investing causes a detriment to both themselves and the country as a whole.
• 00:25:00 In this section, the speaker discusses the problems with the Korean education system and the pressures faced by individuals after graduating from university. They highlight the need to break free from this cycle of working long hours and sacrificing personal life for the sake of societal expectations. The speaker also mentions the importance of investing in stocks, emphasizing how it can provide opportunities for growth and financial stability in the long term. They provide personal examples of successful investments in Korean companies like SK Telecom and Samsung Electronics to illustrate the potential benefits of stock market investments. However, they caution against treating stocks as a form of gambling and stress the importance of making informed decisions based on research and long-term goals. Overall, the speaker encourages individuals to consider investing in stocks as a means to break free from the limitations of traditional societal expectations.
• 00:30:00 This section discusses the importance of consistently saving money through stock investments in order to achieve a comfortable life and financial stability. The speaker argues that stocks are a valuable asset that can absorb risks and generate wealth over time. They also note that there are only two categories of people who have substantial wealth: those who own many stocks and those who manage their own businesses. The speaker emphasizes the need for individuals to focus on their own income and wealth generation rather than personal ambition and competition with others. They urge Careful consideration of financial planning, setting realistic goals and recognizing that it is a process that requires patience, hard work, and persistence.