Wall Street Expert: "Samsung Electronics Should Also List on the U.S. Stock Market Like SK hynix" [SK hynix ADR Boost ③]
by Cha Minyoung
Published 24 Apr.2026 07:00(KST)
Updated 24 Apr.2026 08:32(KST)
David Samra, Executive Director at Artisan Partners
"With an ADR listing, U.S. investors can trade at low cost
through domestic brokers without currency risk"
As SK Hynix is pursuing an ADR listing in the United States, there is a growing argument on Wall Street that Samsung Electronics should also list an ADR. Proponents say listing on the U.S. stock market could help the company escape the “Korea discount” (the undervaluation of Korean stocks), allowing for a revaluation of its shares and increased liquidity.
David Samra, Executive Director at Artisan Partners (pictured), recently stated in a written interview with The Asia Business Daily, “A re-listing of ADRs based on existing shares can have a meaningful effect.” Artisan Partners, a U.S.-based active asset management company founded in 1994, is a major shareholder of Samsung Electronics, holding a 0.7% stake as of the end of last year. The firm has been investing in Samsung Electronics for over ten years.
The company has been recommending that Samsung Electronics list an ADR on the U.S. stock market long before SK Hynix announced its own ADR listing plans. However, Samra emphasized that unlike SK Hynix, which is planning to issue new ADRs, Samsung Electronics should offer existing shares on the U.S. market. He explained, “Samsung Electronics is not in urgent need of capital at the moment. The company already has sufficient capital strength, so there is no need to issue new shares in the U.S. or any other market.” He continued, “Even re-listing existing shares in the form of ADRs traded in the U.S. market would provide advantages.”
He believes ADRs could create a structure that makes it easier for U.S. stock market funds to flow into Samsung Electronics. “The United States gathers the largest pool of investment capital in the world, much of which is still managed with a domestic focus,” he said. He added, “An ADR listing opens the door for U.S. retail investors to invest in Samsung Electronics shares through their local brokerage firms at a low cost, without the burden of currency exchange.”
The potential for inclusion in global indices was also identified as a key incentive. “If a Nasdaq listing is achieved, Samsung Electronics could be included in major indices, attracting more stable, long-term capital,” he predicted. For example, the Invesco Nasdaq 100 ETF 'QQQ' is a representative exchange-traded fund tracking the Nasdaq 100 index. According to Invesco, as of April 2026, QQQ manages approximately 395 billion dollars (about 585 trillion won) in assets under management (AUM).
He also noted, “It’s true that the barriers to accessing the Korean stock market have been significantly lowered and the relative appeal of ADR listings has diminished compared to the past.” This year, identification requirements for investors have been simplified, and foreign institutions can now trade through omnibus accounts. In particular, institutional investors can now open accounts using only a Legal Entity Identifier (LEI) without prior registration.
However, he emphasized, “Nevertheless, it is important to note that the U.S. still holds the world’s largest pool of investable capital, much of which is still managed with a domestic focus,” highlighting the potential for increased liquidity and improved price discovery through ADRs.
A Samsung Electronics representative commented, “There is no official position” on this matter.
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