Government Strengthens 'Value-Up' Policy... Economic Deputy Prime Minister and Financial Services Commission Chairman Take Direct Action

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The speaker for the congratulatory address at the 'Corporate Value-Up Program' has changed from Kim So-young, Vice Chairman of the Financial Services Commission, to Kim Ju-hyun, Chairman of the Financial Services Commission. Additionally, the Emergency Economic Ministers' Meeting separately mentioned the Corporate Value-Up Program, reinforcing the policy. This highlights the government's particular attention to enhancing corporate value in relation to the advancement of the capital market.

According to the government on the 26th, the '1st Seminar on Corporate Value-Up Support Measures' held at the Korea Exchange was originally scheduled to be attended by Vice Chairman Kim. The Korea Capital Market Institute distributed the program details on the 23rd, but over the weekend it was changed so that Chairman Kim would participate directly.

A government official explained, "To give greater support to the Corporate Value-Up Program, it was decided that the minister would deliver the congratulatory address personally."

While Vice Chairman Kim conducts the seminar related to the program, she will handle a briefing on the related content at the Government Complex Seoul. Afterwards, she will visit Singapore and Thailand to provide detailed explanations of the Corporate Value-Up support measures and engage in sales activities for the domestic financial industry.

The Corporate Value-Up Program policy is designed by the Financial Services Commission and led by the Korea Exchange and listed companies. The program presenter is also Jeong Ji-heon, Head of the Korea Exchange's KOSPI Market Division. The upgrade of the Financial Services Commission attendee from vice minister to minister is interpreted as an effort to strengthen the policy.

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Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, also took steps to promote the Corporate Value-Up Program. At 8 a.m. that day, Deputy Prime Minister Choi held an 'Emergency Economic Ministers' Meeting' with ministers from related departments. The Ministry of Land, Infrastructure and Transport, Financial Services Commission, Public Procurement Service, and Ministry of Environment attended, and two of the five agenda items were related to the Financial Services Commission.

The third agenda item, 'Direction for Advancing the Capital Market,' included the Corporate Value-Up Program. The government stated, "There is an assessment that to resolve the undervaluation of the (Korean stock market) and to advance the capital market to the next level, efforts by companies themselves to enhance corporate value need to be pursued alongside improvements to existing systems," adding, "New policies such as the Corporate Value-Up support measures will be steadily promoted over the long term to lead to improvements in capital market practices and culture."

While agenda items at the Emergency Economic Ministers' Meeting are usually embargoed from the start of the meeting, only the Corporate Value-Up Program content was synchronized with the Korea Exchange's announcement time and press release availability. A government official said, "President Yoon Seok-yeol has a deep interest in capital market policies," and explained, "Policy efforts to resolve the Korea Discount (undervaluation of the Korean stock market) will continue this year as well."

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