KOFIA Welcomes Government's Capital Market System Improvement Plan

The Korea Financial Investment Association expressed its welcome on the 18th regarding the government's capital market system improvement measures.

President Yoon Seok-yeol held a public discussion forum on the 17th at the Korea Exchange in Yeouido, Seoul, under the theme "Financial Coexistence, Expanding the Ladder of Opportunity."

The main points include ▲ tax system improvements to support national asset formation such as stock-related tax system adjustments and strengthened support for ISA (Individual Savings Account) ▲ system improvement measures to create an investor-friendly capital market, including amendments to the Commercial Act to strengthen protection of minority shareholders' rights and operation of the "Corporate Value-Up Program" ▲ measures to enhance fairness in the capital market, such as eradicating illegal short selling and strengthening monitoring and sanctions against unfair trading.

Seo Yoo-seok, Chairman of the Korea Financial Investment Association, said, "We welcome the President’s remarks on the capital market and national asset formation, including presiding over the stock market opening ceremony and the public discussion forum. Both capital market participants and the financial investment industry appreciate this." He added, "The industry plans to do its best with a sense of mission to realize the government's will for capital market development and the necessity of national asset formation."

He continued, "In particular, resolving the Korea Discount is a matter directly related not only to the 14 million stock investors but also to all Korean citizens, including national pension funds, other pension funds, and individual and retirement pension subscribers," emphasizing, "It is possible to build a structure where the fruits of that growth circulate positively to all citizens."

An association official stated, "These measures will boldly reform capital market regulations that do not meet global standards to resolve the Korea Discount," and emphasized, "They will contribute to establishing the capital market as a place of coexistence where citizens and companies grow together."

The association and the financial investment industry announced that they will effectively communicate the government's system improvement initiatives to the industry and investors and actively support future system improvement efforts.