Kim Byung-hwan, Chairman of the Financial Services Commission, is delivering a congratulatory speech at the Korea Exchange Korea Capital Market Conference 2024 held at the Conrad Hotel in Yeongdeungpo-gu, Seoul on the 4th. Photo by Yonhap News
Kim Byung-hwan, Chairman of the Financial Services Commission, emphasized on the 4th that "Value-up is a common goal and task that all citizens wholeheartedly desire."
Chairman Kim made these remarks at the ‘Korea Capital Market Conference 2024’ held at the Conrad Hotel in Yeouido, Seoul.
He stated, "The advancement of the capital market is steadily pursuing institutional improvements centered on three pillars: establishing a fair and transparent market order, enhancing investor accessibility, and establishing shareholder value management, so that companies and citizens can coexist and our economy can achieve sustainable growth."
He continued, "Above all, for value-up, the awareness, practices, and culture of companies must be improved. We are promoting corporate value-up as a core policy to spread a corporate culture centered on shareholder value," adding, "We plan to provide comprehensive guidelines so that listed companies can independently establish, implement, and communicate their corporate value enhancement plans, and support corporate participation through various incentives."
He also noted, "The number of companies disclosing value-up is gradually increasing, and shareholder returns through share buybacks, cancellations, and dividends are also expanding," and said, "The value-up Exchange-Traded Fund (ETF) and Exchange-Traded Note (ETN) being listed today will serve as effective means for investors to evaluate and reflect the efforts and achievements of listed companies in enhancing their value, and are expected to be a turning point for more active participation of our companies in value-up."
Chairman Kim expressed regret, saying, "It is unfortunate and weighs heavily on me as a policymaker that domestic investors’ direct investments in overseas stock markets are increasing due to the recent underperformance of the Korean stock market compared to overseas markets," and emphasized, "Value-up is not something that can be achieved by government efforts alone, but a goal that all market participants, including companies and investors, must achieve together." He added, "If we walk the path toward value-up with one heart and one mind without getting tired, I believe everyone will realize that they are at the end of that path."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
