Democratic Party "JP Morgan forecasts KOSPI 5000 era... Additional amendments to the Commercial Act"

[Financial News] The Democratic Party of Korea announced on the 14th that JP Morgan, one of the world's largest investment banks, forecasted the KOSPI 5000 era based on corporate governance restructuring, stating, "We will make optimistic forecasts a reality with the Lee Jae-myung government."
Kim Hyun-jung, the Democratic Party's floor spokesperson, said in a briefing that day, "JP Morgan evaluated that as long as reforms proceed smoothly, they recommend additional purchases whenever market volatility occurs. Global investment bank Macquarie also predicted that KOSPI 4000 could be the beginning, not the peak," explaining that "the Democratic Party's capital market reform is the right path."
The Democratic Party sees the driving force behind the recent rise in KOSPI as the amendment to the Commercial Act and plans to speed up follow-up legislation, including the expansion of cumulative voting and the separate election of audit committee members. The Democratic Party plans to pass additional amendments to the Commercial Act in the July extraordinary session of the National Assembly. Floor leader Kim emphasized, "We will use the supplementary budget as a priming water to revive the economy more quickly and accelerate market reform with additional amendments to the Commercial Act."

cjk@fnnews.com Choi Jong-geun Reporter