Lee Eogwon: "In 2026, Resolving the 'Korea Discount'... Anticipating the Inaugural Year of the 'Korea Premium'"

Lee Eogwon, Chairman of the Financial Services Commission, announced his intention to make 2026 the year to resolve the "Korea Discount" and elevate Korea's capital market to a new level.

Lee Eokwon, Chairman of the Financial Services Commission, is delivering a congratulatory speech at the "2026 Securities and Derivatives Market Opening Ceremony" held at the Korea Exchange in Yeouido, Seoul on January 2, 2025. Photo by Jo Yongjun

On January 2, at the "2026 Securities and Derivatives Market Opening Ceremony" held at the Korea Exchange in Yeouido, Seoul, Chairman Lee stated, "If 2025 marked the beginning of a revaluation of the capital market by ushering in the KOSPI 4000 era, I hope 2026 will be the inaugural year of the 'Korea Premium' era."

He assessed that despite difficult conditions last year, such as tariff uncertainties and global interest rate fluctuations, the Korean stock market demonstrated its resilience. He emphasized, "Together with 15 million individual investors and both domestic and foreign investors, we are launching the 2026 capital market."

Chairman Lee presented four key principles for this year's capital market policy: trust, shareholder protection, innovation, and virtuous cycle.

First, he pledged to establish a fair market order that aligns with global standards. Chairman Lee stressed, "This year, we will firmly implement a 'one-strike-out' policy against unfair trading, ensuring that stock price manipulation is always detected and, once caught, leads to severe consequences so that the market fully recognizes this."

Shareholder value protection will also be further strengthened. Protection for general shareholders will be enhanced in cases of split listings, and the principle of retiring treasury shares will be supported. In addition, a stewardship code compliance monitoring system will be established and its scope of application expanded. He explained, "We will foster a culture where general shareholders can fairly enjoy the fruits of corporate growth."

He also highlighted the capital market's role in driving innovation in future industries. This year, the National Growth Fund will launch its first mega project to actively support high-tech industries and aims to generate growth outcomes through regional preferential support and the creation of citizen participation funds. Furthermore, the supply of venture capital by large-scale investment banks will be expanded, and the KOSDAQ market will strengthen its dynamism through a "multi-listing, multi-investment" structure.

He also announced plans to expand the demand base of the capital market and solidify a "virtuous cycle structure" for shared growth. The Financial Services Commission will support the market launch of Business Development Companies (BDCs) and, for Security Token Offerings (STOs), will refine the institutional framework through public-private-academic consultative bodies before the law comes into effect. The commission is also considering advancing procedures for foreign investors and providing tax support for corporate growth investment funds.

Chairman Lee emphasized, "The capital market is a platform where companies and the public create the future together," adding, "I hope companies will respond with responsible management and enhanced shareholder value to build trust, and that investors will join as partners in corporate growth to share in the results."