The Gangnam Style effect on DI Corporation Stock Price

The Gangnam Style effect: Company owned by father of Korean pop sensation sees its share price TRIPLE in three weeks 

• His company, DI Corporation, which makes semiconductor testing devices had lost money in each of the past four quarters
• But recently share prices ramped up from $1.80 to $5.12 in the space of just three weeks - coinciding with the phenomenal success of the videos

His father must have felt immense paternal pride when it was revealed South Koren rapper Psy's music video Gangnam Style had become the most liked video of all time on YouTube.

But now Park Won-ho has his own reason to celebrate as it has been announced his component manufacturing firm in Seoul has seen its share price shoot up as a result of his son's success.

His company, DI Corporation, which makes electric circuit testing devices, had lost money in each of the past four quarters.

Success: South Korean rapper Psy, who sings the popular Gangnam Style song, performs during his concert in Seoul earlier this week

Family connections: Rapper Psy's father now has his own reason to celebrate as it has been revealed his component manufacturing firm has seen its share price shoot up as a result of his son's success

But recently share prices ramped up from $1.80 to $5.12 in the space of just three weeks - coinciding with the phenomenal success of the horse-dancing video, reported The Economist.

It is unclear why investors would think the catchy song will help sell more products, but the news must be welcome to Park Won-ho. 

Psy’s father is the company’s second-largest shareholder, with a 10.11 percent stake.

Turn around: His company, DI Corporation, which makes semiconductor testing devices such as burn-in systems, and wafer probing machines had lost money in each of the past four quarters

His brother, Park Won-deuk, serves as vice chairman and also the largest shareholder with a 15.84 percent interest, according to Korea joongang Daily.

This means the family owns more than one quarter of the company.

'Stocks usually move in relation to how a company performs, but especially in Korea, they can also be deeply affected by less tangible factors like public sentiment,' said Jung Geun-hae, a small cap analyst at Woori Investment & Securities told the website. 

'Apart from the fact that Psy’s father is an influential shareholder, there’s really no reason to explain why DI Corporation’s share price has been on such a bullish run,' Jung added.

Psy's video has been on the YouTube since July and has already collected more than 359 million views and has had 3.4 million likes on the video site.

Toilet humour: Psy take his music into the bathroom in Gangnam Style

Unique: Psy's moves have become so popular, even presidential candidates are copying them

Dressing up: Psy tries on a range of brightly coloured tuxedos in the hit video

Nobody was more surprised by the success of the video than its creator - Psy has had a decade-long career in his homeland and never thought he would break overseas.

The 34-year-old explained: 'The YouTube video never targeted foreign countries. It was for local fans.

'My goal in this music video was to look uncool until the end. I achieved it.'

The video's popularity owes much to Psy's bizarre outfits and outlandish dance moves. 

Going global: So far 26 million people have video Gangnam Style

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Parodies have popped up from South Korea to the United States, and the tune was used as part of Stockholm's Pride Parade earlier this month.

Even a few of South Korea's normally staid presidential candidates are imitating Psy's moves in an appeal to voters.

The song, released in mid-July, was meant as a commentary on the rampant materialism and emphasis on appearance of today's South Korea - particularly in relation to Gangnam, which Psy terms Seoul's Beverly Hills.

The musician explains: 'It is too hot, and the economy is so bad. So I just wanted the song - lyrics, dances and everything - to be full of gusto.'

Also here is you tube link : http://www.youtube.com/embed/9bZkp7q19f0


Source : http://www.dailymail.co.uk 
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