President Lee: “Domestic Capital Market Still Undervalued; Step Up Efforts to Foster KOSDAQ, Too”

[Financial News] President Lee Jae Myung said on the 12th that “given the strength of the macroeconomic fundamentals and the competitiveness of our companies, the domestic capital market remains an undervalued and attractive investment destination,” and called for accelerating reforms to boost corporate value and expand shareholder returns.
Chairing a meeting with senior aides at Cheong Wa Dae that afternoon, President Lee said, “The domestic market is also being significantly affected by recent instability in the external environment and other factors,” adding, “Rather than being swayed by short-term changes, we should focus more on creating an environment in which our capital market is properly valued.”
President Lee said that “since our government took office, three revisions to the Commercial Act have increased the transparency of corporate governance and established various safeguards to protect shareholder rights,” but assessed that “much more remains to be done.” He went on to stress, “We must redouble our efforts to ensure that our capital market can become a trusted, advanced market with global competitiveness.”
President Lee said, “We should not only pursue reforms to boost corporate value and expand shareholder returns consistently and swiftly, but also develop measures from multiple angles to promote long-term investment.” He added, “We must also step up efforts to foster the KOSDAQ market and innovate the venture capital ecosystem so that companies with innovative technologies and ideas can smoothly raise the capital they need at each stage of growth.”
President Lee urged, “A greater economic leap forward will be possible only if we create a virtuous cycle in which capital markets support corporate innovation and investment, drive the development of the national economy, and are in turn strengthened by that development,” adding, “We must sustain institutional and policy efforts so that (the development of the capital market) leads to corporate growth and an increase in the public’s wealth, and brings about a dramatic leap forward in the national economy.”
Referring to the start of construction on the Chungcheong region mega-project that day, President Lee said, “I ask that you actively seek creative and bold solutions that go beyond existing practices and constraints so that projects in other regions can also move forward swiftly.” He added, “Practical discussions should also proceed quickly to increase the autonomy and accountability of local government finances and establish a stable revenue structure.”
President Lee also said of major manufacturing industries such as automobiles, shipbuilding, steel, and petrochemicals, “We need to accelerate the integration of advanced technologies, including artificial intelligence and robotics, into manufacturing operations.” In particular, regarding the automotive sector, he called for action, saying, “I ask that you swiftly devise proactive and bold measures to secure world-leading competitiveness in electric and autonomous vehicles.”

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