"North Korea Has Secured Enough Nuclear Weapons... Must Be Stopped"
"South Korea's Military Ranks Fifth Globally Even Without US Forces... Defense Budget to Be Significantly Increased"
"Military Issues Are Not a Threat to the Korean Peninsula... Und
President Lee Jaemyung, who is visiting New York, United States to attend the United Nations (UN) General Assembly, emphasized on the 25th (local time) that the Korean stock market, as the world's only divided nation, is undervalued due to geopolitical instability. He stated, "The new administration will definitively resolve these risks." He stressed that, even considering Korea's defense capabilities, there is no significant security concern on the Korean Peninsula, and asserted that the undervaluation issue will be greatly improved going forward.
At the "Korea Investment Summit" held at the New York Stock Exchange (NYSE) that day, President Lee explained these points and called on major Wall Street investors to actively invest in the Korean market. Listing the causes of the undervaluation of the Korean stock market, such as lack of corporate transparency and political uncertainty, President Lee also addressed in detail the geopolitical issues stemming from inter-Korean tensions and shared his views on these matters with the attendees.
In particular, President Lee introduced the background behind proposing North Korea-U.S. dialogue to President Donald Trump, stating, "It appears that North Korea has already secured enough nuclear weapons necessary for regime survival, and in terms of intercontinental ballistic missiles (ICBMs) capable of reaching the United States with nuclear warheads, only the reentry technology remains to be developed. If left unchecked, North Korea could increase its nuclear arsenal by about 15 to 20 warheads each year." He added that his greatest concern, which he expressed to President Trump, was the possibility of North Korea exporting nuclear weapons to other countries. He further explained that he suggested halting this in the short term and pursuing gradual reduction and denuclearization.
President Lee also emphasized that there is no need for concern regarding South Korea's defense capabilities. He stated, "Even without the presence of U.S. Forces Korea, South Korea's military strength ranks fifth in the world," and added, "Compared to North Korea's annual gross domestic product (GDP), South Korea's defense budget is about 1.5 times larger." He went on to say, "Although there was a request from President Trump, we are considering a significant increase in defense spending."
Accordingly, President Lee reiterated that South Korea's military issues cannot be regarded as a threat to the Korean Peninsula, and that the undervaluation of the Korean stock market will be significantly improved in the future. He stated, "The Republic of Korea possesses overwhelming military strength, economic power, and comprehensive defense capabilities, and the government maintains a positive stance on security matters. Therefore, it is difficult to say that military issues currently pose a threat to the Korean Peninsula." He further remarked, "Taiwan is also under threat from China, but it is not as undervalued as the Republic of Korea, is it?"
Meanwhile, the event was attended by 20 top executives from major global financial institutions on Wall Street. Among the attendees were Jane Fraser, who has served as the CEO of Citigroup since 2021; Emmanuel Roman, CEO of PIMCO, the world's largest bond investment firm; Mary Erdoes, CEO of JPMorgan; Marc Nachmann, President of Goldman Sachs; and Joseph Bae, CEO of KKR.
From the government, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, Financial Services Commission Chairman Lee Eokwon, Financial Supervisory Service Governor Lee Chanjin, and Korea Exchange Chairman Jung Eunbo were present. CEOs of domestic financial companies, including Jin Okdong, Chairman of Shinhan Financial Group; Ham Youngjoo, Chairman of Hana Financial Group; and Kim Namgoo, Chairman of Korea Investment Holdings, also attended.
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