Lee Jae-myung: "Temporary Short Selling Ban Must Be Implemented Immediately for Effect... Stock Price Plunge Needs Stabilization"

Lee Jae-myung "Yoon Government's Economic and Livelihood Measures Are Backward... Temporary Ban on Short Selling Needed"

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, a leading candidate for the Democratic Party leadership, stated on the 25th, "The temporary ban on short selling should be implemented immediately to be effective, and it is very regrettable that it is still only under review."

During his visit to the Korea Exchange in Yeouido on the same day, Lee commented on the stock market, saying, "In a situation where stock prices are plummeting, the government has taken a neglectful stance rather than making efforts to stabilize the market, causing enormous damage even to small investors." He added, "Even though a fund exceeding 10 trillion won has been established for stock market stabilization, not deploying it raises doubts about what efforts the government is actually making."

After his visit to the exchange, Lee also emphasized in a meeting with reporters, "There is a need for institutional improvements so that short selling itself operates fairly to stabilize the stock market."

Lee stressed, "The undervaluation of the Korean stock market is a chronic problem of the Republic of Korea's economy," adding, "The biggest causes are unfairness and opacity, such as stock price manipulation."

He continued, "Ensuring fairness and transparency in the capital market is essential for integration into an advanced economic system," and added, "The Democratic Party will do its best to improve unfair trading and opaque markets."

Regarding the government's corporate tax reform, he emphasized, "Looking at policies such as tax cuts for large conglomerates and reductions in support for ordinary citizens, it seems intended to deepen polarization." Lee pointed out, "The crisis in the economy and people's livelihoods largely stems from polarization and inequality," and said, "When there is a crisis, overcoming it is the role of politics, but our government's policies are going in the opposite direction."

Furthermore, he said, "Rather than eliminating the causes of the crisis, it seems like a policy of a contrarian, especially a 'red-colored contrarian,' turning the crisis into an opportunity to deepen the causes."

This content was produced with the assistance of AI translation services.