Lee: "Still Undervalued, Very High Growth Potential" as KOSPI Hits Record High

President Lee Meets with Foreign-Invested Companies on the 28th
"Will Establish a Governance Structure That Properly Respects Shareholders"

President Lee Jae-myung is speaking at the Foreign-Invested Companies Meeting held at the Blue House on the 28th. Photo by Yonhap News

On the 28th, as the stock market continued its record-breaking rally, President Lee Jae-myung stated, "The Korean market remains undervalued." President Lee assessed, "Korea has outstanding human resources and material foundations, so the potential for future growth and development is very high."

President Lee made these remarks during a meeting with foreign-invested companies held at the Blue House that afternoon. He said, "You may see a different aspect of Korea's current economic situation compared to the past," emphasizing, "What stands out is the unprecedented volatility in the stock market."

President Lee added, "I expected this to happen, but I am surprised at how much faster it has occurred than anticipated. On the other hand, considering this as a process of normalization, it seems that Korea, which had been undervalued below its fundamental strength, is now in the process of being properly evaluated."

He also mentioned, "I believe that the Korean stock market is, in a way, showing you the future of those investing in Korea."

Furthermore, President Lee stated, "Just as the people are the owners of the nation, shareholders should be the owners of a company. But are they truly being treated as such?" He continued, "It does not seem sufficiently democratic. I will reform corporate governance to establish a rational management structure in which shareholders are properly respected."

President Lee went on to say, "Can we allow the market to be unfair and opaque?" He added, "Korea suffered great embarrassment due to so-called stock price manipulation, but from now on, that will not happen." He emphasized, "I will thoroughly ensure fairness and transparency in the stock market. I am confident in my ability to do so."

Regarding the so-called 'Korean Peninsula peace risk,' which is cited as one of the reasons for the undervaluation of the Korean stock market, he said, "There is no need to worry about that issue," explaining, "We will not engage in unnecessary military confrontation with North Korea, nor will we allow conflicts with North Korea to escalate."