Lee Promised to Invest 100 Million Won in Domestic Stocks if Elected
Records 11.6 Million Won Unrealized Gain as of Today's Closing Price
"Will Stand with 14 Million Retail Investors"
President Lee Jae-myung is having a luncheon meeting with research center heads from securities firms at the Yongsan Presidential Office on the 18th. Photo by Yonhap News Agency
The Presidential Office announced that President Lee Jae-myung achieved a 26.4% return on his investment in domestic Exchange Traded Funds (ETFs) made during the presidential campaign.
On September 18, Presidential Office spokesperson Kang Yoo-jung released President Lee's ETF investment performance during a briefing, stating that as of the closing price that day, he recorded an unrealized gain of 11.6 million won, with a return rate of 26.4%.
During a YouTube live broadcast in May, President Lee had promised that if elected, he would invest a total of 100 million won in the domestic stock market during his term. The investment plan involved an initial purchase of 40 million won in ETFs, with an additional 1 million won invested monthly for five years.
According to spokesperson Kang, President Lee purchased 20 million won each of KOSPI 200 ETF and KOSDAQ 150 ETF. From May through last month, he made systematic investments totaling 4 million won in the KOSPI 200 ETF over four months.
Kang explained, "This is interpreted as a sign that the domestic stock market is undergoing structural improvement, influenced by shareholder-friendly policies such as expanding the duty of loyalty from company directors to shareholders and strictly punishing unfair trading in the stock market." She added, "President Lee stated that he will enhance the appeal of investing in the domestic stock market to accelerate the shift of real estate funds into stocks, and that he will actively promote the attractiveness of the Korean stock market to foreign investors during overseas visits."
She continued, "President Lee pledged to stand with 14 million retail investors in pursuit of the KOSPI 5,000 milestone until the day he leaves office."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
