DP Launches KOSPI 5000 Special Committee... Kim Byungki: "Establishing a Fair Market Order"

"Market Expectations and Trust" Behind KOSPI Surpassing 3000

Kim Byungki, acting leader and floor leader of the Democratic Party of Korea, stated on June 23, "President Lee Jaemyung and the Democratic Party's economic policy direction is clear: to establish a fair market order and to create a foundation of trust where foreign investors can invest with confidence."

Kim made these remarks at the inaugural ceremony of the Democratic Party's KOSPI 5000 Special Committee held at the National Assembly that afternoon, reiterating, "President Lee Jaemyung and the Democratic Party's economic policy direction is clear."

Previously, during the last presidential election, President Lee pledged to achieve KOSPI 5000 as a campaign promise, and the Democratic Party has been preparing a special committee to revitalize the stock market and establish a fair market order since his election.

Kim pointed out, "Last Friday, the KOSPI index surpassed 3000 for the first time in about three years and six months since December 28, 2021," adding, "This is reportedly being driven by foreign investment."

He emphasized, "This was made possible because the birth of a government based on popular sovereignty has resolved political uncertainty, and initiatives such as the Commercial Act amendment promoted by the Democratic Party have earned expectations and trust from the market."

He further stressed, "We will put an end to the Korea Discount and usher in the era of the Korea Premium. The Democratic Party, in step with the Lee Jaemyung administration, will deliver tangible results that the public can feel for genuine and inclusive growth."

Yonhap News Agency

Oh Gihyung, a lawmaker who serves as the chair of the special committee, highlighted that amendments to the Commercial Act?such as the duty of loyalty to shareholders, separate election of audit committee members, and electronic general meetings of shareholders?are global standards that cannot be resisted by the times, and stated that the committee will communicate closely with the government to improve the system.

Oh added, "President Lee, during his presidential campaign, said he would quickly implement stock market-related pledges within two to three years after taking office. The National Assembly needs to accelerate its efforts. The KOSPI 5000 Special Committee will consistently address various policy tasks."