President Lee Holds Luncheon with Heads of Research Centers from Domestic and International Securities Firms
"Will Eliminate Unfair Trading and Opaque Management, Work to Ease Inter-Korean Tensions"
"Will Channel Funds Concentrated in Real Estate Speculation into the Capital Market"
On September 18, President Lee Jaemyung held a luncheon meeting with the heads of research centers from domestic and international securities firms at the presidential office in Yongsan. During the meeting, he stated, "We must create an environment where people say that returning to the stock market is a sign of intelligence." He also pledged to eliminate unfair trading and opaque management practices, and to work toward stabilizing the situation on the Korean Peninsula.
At the luncheon with the heads of research centers from 15 securities firms, President Lee said, "During my presidential campaign, I mentioned that simply normalizing the stock market and changing the administration would push the KOSPI index above 3,000, and I am glad to see this has actually happened. As I take the helm of national affairs and the economy, I increasingly realize the importance of normalizing the capital market." He made these remarks while emphasizing his commitment to this goal.
He also stressed the need to create a predictable market environment and eliminate unfair trading and opaque management. President Lee stated, "Rationality is the lifeblood of the economy. It must be predictable and stable. I have heard that there should be no unfair trading, opaque management, or irrational decision-making. I believe we must eradicate stock price manipulation and unfair disclosures, and significant progress has already been made in this regard."
He highlighted the importance of rational decision-making, sound economic policies, and easing tensions between North and South Korea. President Lee said, "We are moving forward with amendments to the Commercial Act, and with just a few more measures, we can resolve these structural irrationalities. I will continue to present rational economic policies and provide a clear vision to ensure predictability." He added, "Stabilizing the situation around the Korean Peninsula and easing military confrontation and tensions between the two Koreas will benefit the capital market."
President Lee also announced plans to redirect funds concentrated in real estate speculation into the capital market through financial policy. He said, "So far, capital in our country has been overly focused on real estate investment and speculation, which destabilizes the national economy. Our financial policy efforts are aimed at channeling these funds into productive sectors. Although immediate results may not be visible, the direction is clear. I believe this will also contribute to normalizing the capital market."
He continued, "I still believe it is necessary to revitalize the stock market as a viable alternative investment option for the public, and I am pleased to see some positive results. If the heads of research centers provide rational and objective analyses and offer more investment opportunities to the public, it will ultimately help increase national wealth and create opportunities for companies as well."
According to Kang Yoojeong, spokesperson for the presidential office, during the subsequent closed-door luncheon, the research center heads freely discussed measures to revitalize the stock market, including regulatory easing, increased dividends, and fostering venture businesses. President Lee carefully examined the potential effects of each proposal and referenced examples from advanced economies, instructing his aides to review feasible suggestions. Spokesperson Kang explained, "As the meeting concluded, President Lee asked participants to actively share any issues or suggestions for improvement they encounter in the field, promising that the government would actively reflect them. He stressed that a vibrant stock market would benefit the government, companies, and the public alike, and requested the cooperation of all attendees."
Those present at the meeting included Choi Youngkwon, President of the Korea Analysts Association; Park Heechan, Executive Director at Mirae Asset Securities; Yoo Jongwoo, Executive Director at Korea Investment & Securities; Cho Suhong, Executive Director at NH Investment & Securities; Kim Dongwon, Executive Director at KB Securities; Yoon Seokmo, Executive Director at Samsung Securities; Lee Jonghyeong, Director at Kiwoom Securities; Yoon Changyong, Executive Director at Shinhan Investment & Securities; Kim Youngil, Executive Director at Daishin Securities; Yoon Yeocheol, Executive Director at Yuanta Securities; Park Younghun, Executive Director at Hanwha Investment & Securities; Noh Geunchang, Managing Director at Hyundai Motor Securities; Lee Seunghoon, Executive Director at IBK Investment & Securities; Choi Gwanghyeok, Director at LS Securities; Choi Doyeon, Executive Director at SK Securities; and Kim Hyeeun, Executive Director at Morgan Stanley Securities.
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