▲ CEO Bok Jae-sung

The global economy went through many ups and downs but most drew a down line in the year 2018. In the dawn of the year 2019, the Korea Development Institute predicted a 2.5% economic growth of Korea this year which is not very impressive. As a result, companies and organizations are eager to gather information on how the global and domestic economies this year will be flowing and affecting. <Power Korea> met CEO Bok Je-sung of Ten Million Dollar Club and heard his brief insight in stock market 2019. 

Stability of interest rate to play positive
It is predicted that the global economic down turn might linger a while for the year 2019. The US increased the interest rate steadily last year, employment was slow down and semi-conductor industry drew a falling curve. Yet there always is a light at the end of the tunnel; the Fed (Federal Reserve Board) turned its prediction of 3 times interest rate increase in the year 2019 down to 2 times. 

Bok analyzes this as “The Fed’s measure to stabilize interest rate will play positive to global economy. I see that the US stock market will remain strong and can possibly rebound anytime even if affected by a downturn time to time.”

In terms of Korean economy, lack of investment from big companies seems to contribute greatly to a slow down of the domestic economy; the big companies’ hesitation affects mid and small companies systematically and the latter two get most damages. The government has taken some measure to improve the system but its effect seems to take a longer term to harvest substantial results. 

Bok says “It is important to make a win-win economic structure between big and small companies and this requires a vivid blueprint from talented brains. Still, the stock market in 2019 can certainly expect rebound as long as uncertainty on global economy is removed.” 

Ten Million Dollar Club for individual investors
Bok made a great success in the stock market in his 20s and was often nicknamed as Korean Warren Buffett. He recorded his name as the youngest stock analyst in the field backed up by his story to make 10 million dollars starting from only 3,000 dollars. As for today, his asset is estimated worth 100 million dollars. 

To return his gift to people who are struggling to make ends meet, he launched Ten Million Dollar Club to help hopeless individual investors with which indeed he has made substantial contributions by offering free recommendations and their charts. However, his supportive heart not only lingers there as he also has made regular donations to people in need including scholarship in our society. 

When asked about his future plan, he said that he wanted to establish a welfare foundation to systematically help underprivileged in our society. In recognition of his good deeds and contributions to individual investors, he received the 2018 Korea Culture Management Awards held on 17 December 2018 at Press Center Seoul.