Jung Eun-bo Chairman, "Expecting Leading Companies to Act as a Catalyst for Value-Up Success"

Korea Exchange Holds Meeting with Leading Companies for Corporate Value-Up
"Will Reflect Leading Companies' Feedback in Value-Up Guidelines"

Jung Eun-bo, Chairman of the Korea Exchange, held a 'Representative Companies Meeting for Corporate Value-Up' on the 4th and expressed expectations for the representative companies to play a pioneering role in the successful establishment of the corporate value-up program.

Jung Eun-bo, Chairman of the Korea Exchange (fourth from the left in the front row), and attendees at the representative company meeting for corporate value-up are shouting "Fighting" and taking a commemorative photo.
[Photo by Korea Exchange]

At the meeting, Chairman Jung introduced support measures and implementation schedules related to corporate value-up to 11 KOSPI-listed companies representing the Korean market and listened to on-site opinions such as corporate requests. The meeting was attended by ▲Mirae Asset Securities ▲Samsung Electronics ▲KT ▲KT&G ▲Korean Re ▲Hyundai Motor Company ▲BNK Financial Group ▲CJ CheilJedang ▲KB Financial Group ▲LG Chem ▲NAVER.

Chairman Jung emphasized, "Korean listed companies are undervalued compared to overseas competitors due to the Korea discount (undervaluation of the Korean stock market)," and added, "I hope that through the 'Corporate Value-Up Program,' our companies can receive proper evaluation."

He continued, "Since the representative companies, which have played a solid supporting role in our economy, are gathered in one place, we will fully collect opinions and reflect them in the 'Corporate Value Enhancement Plan Guidelines.' We expect the representative companies to take the lead and play a pioneering role so that the corporate value-up program can be successfully established in the market."

The representative companies attending the meeting mostly agreed on the direction of voluntary corporate value enhancement efforts and positively evaluated the preparation of guidelines and the provision of incentives.

The attending companies suggested opinions such as ▲continuous and consistent policy implementation ▲establishing a virtuous cycle by expanding participation of major institutional investors like the National Pension Service in value-up indices and ETF operations ▲granting autonomy to the board of directors to ensure active and practical participation ▲reducing disclosure burdens on companies ▲tax benefits that both companies and investors can feel.

In response, Chairman Jung said, "We will not only make efforts within the Korea Exchange but also closely cooperate with the government to resolve companies' difficulties and support the expansion of voluntary participation."

The Korea Exchange plans to convey the opinions collected through the representative companies meeting to the corporate value-up advisory group to ensure they are reflected in the establishment of the 'Corporate Value Enhancement Plan Guidelines' and the design of 'Detailed Corporate Value-Up Support Measures.'

An exchange official stated, "Starting with the representative companies meeting, we will hold relay meetings with mid-sized companies in the third week and growth companies in the fourth week of this month to gather diverse corporate opinions," adding, "After the guidelines are announced in May, we plan to actively promote the system by holding regional briefings and encourage voluntary participation by companies."