Choo Kyung-ho: "I think the short-selling ban was well done... We need to observe the market's judgment"

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said on the 7th, "I think the short-selling ban measure is necessary."

On the same day, at the plenary meeting of the National Assembly's Planning and Finance Committee, in response to a question from Kim Tae-nyeon of the Democratic Party of Korea asking, "Do you think the short-selling ban policy was a good policy?" Deputy Prime Minister Choo said, "That is my current judgment."

Regarding concerns that the short-selling ban has increased the risk of overseas capital outflow, he said, "There are concerns of that nature, but on the other hand, the National Assembly and investors have raised concerns about short selling," adding, "Let's observe the market's judgment."

In response to criticism that the short-selling ban has made it difficult to be included in the Morgan Stanley Capital International (MSCI) developed markets index, he replied, "We will continue to proceed with institutional improvements related to MSCI inclusion."

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho is responding to questions from lawmakers at the plenary meeting of the Planning and Finance Committee held at the National Assembly on the 7th. Photo by Hyunmin Kim kimhyun81@

Regarding the research and development (R&D) budget, he said, "We will primarily look into the wages of young researchers in basic science fields, the creation of a stable research environment for researchers at government-funded research institutes, and employment instability in small and medium-sized enterprises."

In response to criticism that the Saemangeum budget cut is a 'retaliatory budget' related to the Jamboree incident, he said, "We will thoroughly discuss during the review process whether there are any overlooked increases in demand related to private investment. We have never judged it to be retaliatory."

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