Democratic Party Urges Caution on Using 'Collapse' for KOSPI Falling Below 4,000... 'Breather' Was Anticipated

Park Suhyeon, Chief Spokesperson of the Democratic Party
Expansion and Reorganization of the Housing Market Stabilization Task Force
Formation of a Special Committee for Follow-up Support on APEC

The Democratic Party of Korea has requested caution in using terms such as "collapse" in relation to the KOSPI index falling below the 4,000 mark.

On the 5th, Park Suhyeon, chief spokesperson for the Democratic Party, met with reporters after the highest council meeting and stated, "Today, the KOSPI dropped below 4,000. In professional terms, this is often referred to as a 'breather,' and it was something that could have been sufficiently anticipated." He added, "Regarding the index falling below 4,000, I believe everyone should be careful when using the term 'collapse.'"

Chief Spokesperson Park said, "Wouldn't such expressions of 'collapse' have a significant impact on public sentiment?" He continued, "The index could fall below 4,000 and then rise again-this is a breather phase. Therefore, I believe the use of the word 'collapse' should be restrained."

Jeong Cheongrae, leader of the Democratic Party of Korea, is holding the gavel to signal the start of the highest council meeting held immediately after the demonstration of the publication of the 21st presidential election white paper at the National Assembly on the 5th. Photo by Yonhap News Agency

On this day, the highest council of the Democratic Party expanded the 'Task Force for Stabilizing the Housing Market,' which is preparing measures for real estate supply. Chief Spokesperson Park said, "We received a report from the Housing Market Stabilization Task Force," and explained, "There was a sharing of evaluations on the June 27, September 7, and October 15 measures, a report on the current housing market as of October, and updates on the progress of supply measures."

However, he remained silent regarding the specific details of the report. Chief Spokesperson Park stated, "Every single item discussed could have a significant impact on the housing market, so future explanations will be extremely restrained," adding, "I do not know the specific details and cannot explain them to you."

Assemblywoman Lee Yeonhee has newly joined the task force. Previously, the task force included Han Jeongae, chair of the Policy Committee, as the head, and Assemblymen Lee Haesik (Public Administration and Security Committee), Jeong Taeho and Kim Younghwan (Strategy and Finance Committee), Park Sanghyuk (Political Affairs Committee), Bok Giwang, Cheon Junho, and An Taejun (Land, Infrastructure and Transport Committee). On this day, the highest council additionally appointed Professor Han Mundo from the Graduate School of Myongji University and appraiser Park Eunjeong as advisors.

Meanwhile, a special support committee has also been formed within the party to provide follow-up support for the Asia-Pacific Economic Cooperation (APEC) meeting in Gyeongju. Kim Byungki, the floor leader, has been appointed as the chair of the ad hoc committee for the dissemination of APEC outcomes and follow-up support for the Korea-U.S. customs negotiations.

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