Choi Sang-mok: "Improvements Including Shareholder Returns... Will Enhance Stock Market Attractiveness"

Emergency Macroeconomic and Financial Meeting Held
"Corporate Value-Up Program to Be Announced This Month"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, said on the 1st, "We will improve the insufficient shareholder returns and weak governance to enhance the attractiveness of our stock market," and added, "We will announce the 'Corporate Value-Up Program' plan within this month to encourage companies to strive to increase their corporate value on their own."

On the morning of the 1st, at the Emergency Macroeconomic and Financial Meeting held at the Bankers' Hall, Choi Sang-mok (third from the left), Deputy Prime Minister for Economy and Minister of Strategy and Finance, is delivering opening remarks. From the left, Lee Bok-hyun, Governor of the Financial Supervisory Service; Lee Chang-yong, Governor of the Bank of Korea; Minister Choi; and Kim Ju-hyun, Chairman of the Financial Services Commission. Photo by Heo Young-han younghan@

At the emergency macroeconomic and financial meeting held at the Government Seoul Office that day, Deputy Prime Minister Choi stated, "The chronic undervaluation problem pointed out as a fundamental issue of our stock market continues, so fundamental institutional improvements are necessary."

He said, "The government will respond based on three pillars: enhancing shareholder value, establishing a fair market order, and expanding the demand base," and emphasized, "To restore investor confidence, we will also steadily implement follow-up measures such as improving the treasury stock system and eradicating illegal short selling." He added, "We will promptly push forward related legislative amendments, including the abolition of the financial investment income tax and expanding tax support for ISA, to promote asset formation for domestic investors and stimulate demand in the capital market."

Regarding the Federal Open Market Committee (FOMC)'s decision to hold the policy interest rate steady, Deputy Prime Minister Choi said, "Volatility in the stock market has somewhat increased due to reduced expectations for an early rate cut," and added, "Since there is high uncertainty about the timing and extent of interest rate cuts in major countries, we will respond with special vigilance."