Lee Bok-hyun "Value-up continues regardless of impeachment, shocked by martial law"

Bloomberg TV Interview

Lee Bok-hyun, Governor of the Financial Supervisory Service, stated on the 6th, "Regardless of impeachment, regime change, or political instability, the 'Value-Up Program' will continue."

That afternoon, in an interview with Bloomberg TV, the governor said, "Everyone supports this program (Value-Up) regardless of political orientation."

On the 4th, Lee Bok-hyun, Governor of the Financial Supervisory Service, attended a closed-door meeting to review the economic and financial situation at the Bankers Hall in Myeongdong, Seoul. Photo by Jo Yong-jun

Regarding the 10 trillion won Securities Market Stabilization Fund (SMSF) established by financial authorities to prepare for stock market shocks, he said it has not been used because the situation is still "within a bearable level." He mentioned that other measures and emergency plans are being prepared in case of further market turmoil but did not disclose specific details.

He also expressed being "shocked" by the recent emergency martial law situation and said, "I was not notified of anything in advance." As a former prosecutor, he has been classified as a close aide to President Yoon Suk-yeol.

Meanwhile, Governor Lee continued to criticize MBK Partners, which is in a management rights dispute with Korea Zinc, saying they have failed to persuade the market and government of a long-term vision for the industry.

He said, "If MBK Partners can convince shareholders of a long-term vision for maintaining the company, they could win at the extraordinary general meeting," adding, "MBK Partners has not persuaded the market or authorities that they have a long-term vision for Korea Zinc that goes beyond the existing private equity investment horizon."

He added, "Businesses like Korea Zinc require consideration over more than 20 years, but private equity funds operate with a maximum 10-year term," and emphasized, "MBK Partners must convince not only the government but also the industry and investors that they will maintain this important industry within Korea's manufacturing ecosystem."