South Korea’s Stock Market Rollercoaster

**SPEAKER_1** (0:01)
AI Transformation is more than a tech initiative. It requires a broader rewiring of human skills and ways of working. Here's Dan Swann, senior partner at McKinsey.

**Dan Swann** (0:10)
One of the biggest unlocks we see is the human being capabilities around the technology. Whereas before, you may need to be really good at analysis. Now, the skill might be, how do you prompt these tools to get the right answers and outcomes? And so for us, it's a really big priority to help companies to understand how do you need to change the operating model of your organization and change the underlying capabilities of the people that are interacting with the technology. And when you see that all humming together, it can be really, really special.

**SPEAKER_1** (0:41)
Discover how McKinsey helps organizations rewire to out-compete with AI at mckinsey.com/techmoves.

**SPEAKER_3** (0:48)
This content was created by Custom Content from WSJ, a unit of the Wall Street Journal Advertising Department.

**Imani Moise** (1:01)
Welcome to Tech News Briefing. It's Friday, August 28th. I'm Imani Moise for the Wall Street Journal. Buying a new phone might save you a few hundred dollars, but you could also be purchasing someone else's problems or something more sinister. We'll break down how to get a good deal on a refurbished phone without stress, scams or spyware.
The success of SK Hynix and Samsung has helped make South Korea's stock market one of the world's hottest in recent years, but also one of the most volatile. We'll take a closer look at the country's benchmark Kospi index and what its wild ride could mean for the broader AI trade.
But first, as the price of new phones balloons from the memory chip crisis, getting a refurbished phone can be a good deal. But shopping on the second-hand market also comes with risks. And the wrong bargain can quickly become a costly mistake. Here to break down how to buy a used phone safely and what to watch out for is WSJ personal technology columnist Nicole Nguyen. Nicole, let's start with the basics. What does refurbished actually mean compared to just used?

**Nicole Nguyen** (2:08)
Refurbished means that this phone has been looked at, cleaned, repaired, maybe some of its parts have been replaced. Also, more importantly, a forensic wipe of the phone to make sure that there are no lingering accounts that could prevent cellular activation in the future or lingering data that might inhibit your ability to use the phone.

**Imani Moise** (2:33)
What are the most common problems associated with refurbished phones?

**Nicole Nguyen** (2:37)
The more common issues you're going to run into are a lingering Apple or Google account. So if that phone is still on a Find My network associated with someone's Apple or Google account, you can't activate it on a cellular network. You wouldn't be able to transfer it to your account. Other problems include maybe that phone hasn't been paid off by its previous owner, and so the carriers can block it from activating on US cellular networks. Also, shoddy replacement parts. So maybe a reseller refurbished a phone with an aftermarket battery that's lower quality and doesn't last as long, or it's not recognized by the system, and so you run into update issues, faulty ports. So maybe the charging port doesn't work as well, or the headphone port doesn't work as well.
So buying from the phone makers directly, and also wireless carriers who are part of this gigantic second-hand refurbished industry, and they repair and renew models professionally, you can avoid a lot of these problems.

**Imani Moise** (3:45)
Are those potential defects or faulty-ish repairs something that the average consumer would be able to eyeball, or do you need to take it to a third party to really evaluate?

**Nicole Nguyen** (3:56)
I would say if you are running into any issues on a second-hand phone, if that phone is running hot, if the battery drains really fast, if there are migration issues which could point to potential malware being installed on the device, stop using the phone and return it immediately.
A lot of people don't pay enough attention to warranties when they're buying new phones. If you're buying from the original manufacturer, you'll typically get a one-year warranty, which is the gold standard. 90 days is okay, but I'd say if you're buying a used phone, make sure it has a one-year warranty.

**Imani Moise** (4:35)
You mentioned malware. How worried should people be about malware or spyware on a second-hand phone?

**Nicole Nguyen** (4:41)
My colleague, Joe Barrett, wrote this incredible investigative story on a jury duty scam involving a woman, a victim who had recently bought a refurbished Samsung device, and that device experts say was likely loaded with malware. It's a really scary scenario where she lost tens of thousands of dollars.