By Caroline Kim
Korean pop star Psy, whose music video for “Gangnam Style” has recently replaced “Call Me Maybe” as the viral sensation du jour, may be influencing more than just song sales and YouTube views. Since the July debut of the frenetic and funny video, which mocks the opulent culture of the Gangnam neighborhood in Seoul, his father’s South Korean semiconductor company has seen its stock price more than double.
Mere coincidence? Some people don’t think so.
In early August, soon after the video debuted, D I Corp’s stock (003160.KS) hit 1,500 won ($1.34). Now, almost two months later, the stock has climbed to 3,645 won ($3.26). The company’s market capitalization is now 1.135 billion won, equivalent to about $100 million.