"‘KOSPI 5000’? The Opposition That Mocked 'Impossible'?Past Remarks Resurface"

KOSPI Surpasses 5000 Intraday for the First Time Ever on January 22
Past Remarks by Na Kyungwon, Kim Moonsu, Jang Donghyuk, and Lee Junseok Revisited

"We will usher in the KOSPI 5000 era."

During the last presidential election, President Lee Jaemyung's campaign pledge drew criticism from the opposition, with claims that it was "an unattainable figure," "an empty slogan," and "populism." However, about seven months after President Lee took office, the KOSPI surpassed the 5,000 mark for the first time in history, bringing renewed attention to past statements by opposition figures who had confidently asserted that the pledge was impossible to fulfill.

Na Kyungwon: "KOSPI 5000? An empty slogan...like a mirage"

Na Kyungwon, People Power Party member. YouTube channel 'Maebulshow'

On the 22nd, as the KOSPI surpassed 5,000 during intraday trading for the first time in its 46-year history, the Democratic Party was in a celebratory mood. In contrast, the People Power Party maintained silence, refraining from making any statements. Observers in and outside political circles interpreted this as being closely related to the opposition's previously skeptical stance toward the KOSPI 5000.

Previously, Na Kyungwon, a member of the People Power Party, criticized then-Democratic Party candidate Lee Jaemyung's "KOSPI 5000" pledge during the presidential race in May last year, saying, "Candidate Lee, with his anti-market, anti-business DNA, is shouting an empty slogan," and added, "It is like a mirage."

At the time, Na argued, "The stock index does not rise because of slogans," and insisted, "It is only possible when there is value growth in companies, a solid economic foundation, and accumulated trust in the market." She went on to say, "Lee Jaemyung's KOSPI 5000 promise is like building a fancy second or third floor without laying the foundation."

Jang Donghyuk: "I say this firmly, it will never be achieved"

Donghyuk Jang, Leader of the People Power Party.

Jang Donghyuk, leader of the People Power Party, also attended an event at the National Assembly in October last year, where he stated, "The Lee Jaemyung administration is shouting KOSPI 5000, but I say this firmly: with a government beholden to the Korean Confederation of Trade Unions, it will never be achieved."

Kim Moonsu, former Minister of Employment and Labor and the People Power Party's presidential candidate, also criticized the so-called "Yellow Envelope Law" (amendments to Articles 2 and 3 of the Trade Union and Labor Relations Adjustment Act) and the Serious Accidents Punishment Act at a Central Election Committee meeting held at the Korea Exchange in May last year. He argued, "It makes no sense for someone who is worsening the fundamentals to claim that he will raise the stock index to 5,000."

Lee Junseok: "It will crash like a runaway car with no brakes"

Lee Junseok, Leader of the Reform New Party.

Lee Junseok, leader of the Reform New Party, also expressed skepticism around the same time. He remarked, "Isn't the stock market being taken too lightly?" and referenced President Lee's past experience with stock investments. The "KODEX 200" and "KODEX KOSDAQ150" exchange-traded funds (ETFs) that President Lee said he purchased during the presidential campaign have now recorded returns of over 100% and 30%, respectively.

In August last year, Lee further downplayed the index's upward trend, calling it "beginner's luck" and "the new kid effect," and warned, "It will eventually crash spectacularly, like a runaway car with no brakes." He also added, "If you mistake the lifting of structural constraints, such as the martial law regime, for your own ability and go on a rampage, it will end badly," and questioned, "How far does the KOSPI have to fall before you come to your senses?"

"The 'KOSPI 5000 era' has been proven real through policy and implementation"

In response, the Democratic Party, through a spokesperson's briefing on the 22nd, targeted Na Kyungwon and others, stating, "What meaning do ridicule and criticism hold in the face of today's reality of 'KOSPI 5000'?" The spokesperson added, "The 'KOSPI 5000 era' promised by the president during the election has not remained a mere pledge, but has been proven real through policy and implementation."