Yoon Sang-hyun "National Pension Service Should Buy More Domestic Stocks"

"National Pension Service, Expand Domestic Stock Purchases" Demand
"Opposition Party Must Engage in Dialogue to Pass Budget Bill"

Yoon Sang-hyun, a member of the People Power Party, called for dialogue with the opposition party while advocating for the expansion of domestic stock purchases by the National Pension Service and the establishment of a stock market stabilization fund to ensure economic stability.

On the 10th, Yoon posted on his social media account, "The Korean stock market is showing serious signs of instability," adding, "On the 9th, the KOSPI hit a 52-week low at 2360.58, indicating that market anxiety is spreading throughout the economy." He stated, "The stock market represents more than just numbers," and emphasized, "As a leading economic indicator and a symbol of credibility, if the stock market is unstable, the national economy will inevitably be threatened."

Yoon Sang-hyun, People Power Party member. Photo by Kang Jin-hyung

He continued, "In this situation, the government and the National Assembly must take swift and proactive measures to defend against the current turmoil. We must protect the national economy with concrete and effective policies that restore public trust and secure market stability," proposing two methods. First, he said, "The National Pension Service should expand its domestic stock purchases to stabilize the market. Utilizing the funds held by the National Pension Fund Management Center to purchase undervalued domestic stocks is a measure that can be implemented quickly without the need for legal amendments or changes to enforcement ordinances," adding, "This would supply liquidity to the market, restore investor confidence, and positively impact the National Pension Service’s asset returns. After the economy stabilizes, selling stocks at higher prices could generate additional profits, aligning with the National Pension Service’s fundamental purpose of protecting national wealth."

He also stated, "A stock market stabilization fund should be established to provide a long-term stabilization strategy," explaining, "Financial institutions such as banks would contribute to create a fund of about 20 to 30 trillion won, which could be used to intervene in the market and stabilize investor sentiment." He added, "Although it may take some time to establish the fund, preparing and executing it from now on will form an important foundation for stock market stability. Additionally, establishing a bond market stabilization fund will also contribute to stabilization."

Yoon said, "The economy moves based on expectations. In unstable situations like the current one, it is crucial for the government and the National Assembly to instill trust in the people," urging, "The government must demonstrate a swift and proactive attitude in policy implementation, and the National Assembly should cooperate and support these efforts. The opposition party should immediately engage in dialogue to overcome the national crisis by handling the budget and preparing economic measures."