Lee Jae Myung Vows to Usher in Era of KOSPI 5000... Will Re-push for Commercial Act Amendments

by Moon Hyewon

Published 21 Apr.2025 09:47(KST)

Updated 24 Apr.2025 16:26(KST)

Lee Jae Myung, former leader of the Democratic Party and a preliminary presidential candidate for the Democratic Party, stated on the 21st, "I will resolve the Korea Discount through recovery and growth, ushering in an era where the stock index reaches 5,000 points." He pledged to re-push for amendments to the Commercial Act and to introduce a one-strike-out rule for stock price manipulation.

Lee Jae Myung, former leader of the Democratic Party and a presidential primary candidate for the Democratic Party, is delivering his policy speech at the "Joint Yeongnam Region Debate for the 21st Presidential Election Candidate Selection" held on the 20th at the Ulsan Exhibition and Convention Center in Ulju-gun, Ulsan. Photo by Yonhap News

In his policy pledge to revitalize the stock market, announced via Facebook on the morning of the 21st, Lee said, "If fair and reasonable corporate management and market order are established, our stock market can achieve a breakthrough leap forward."

Lee stated, "An opaque corporate governance structure is one of the chronic causes of the 'Korea Discount,'" and added, "I will re-push for amendments to the Commercial Act to protect the interests of shareholders."

He also said, "I will promote cumulative voting so that directors representing minority shareholders can be appointed, and I will gradually expand the separate election of audit committee members to further strengthen management oversight." Cumulative voting and the separate election of audit committee members were not included in the previous Commercial Act amendment bill proposed by the Democratic Party, which was recently discarded.

Lee emphasized, "Strong measures are needed against unfair practices such as stock price manipulation and market rigging," and declared, "I will introduce a one-strike-out rule so that anyone involved in stock price manipulation, even once, will be permanently barred from re-entering the stock market."

He further stated, "I will improve the system so that, in the case of split-off listings, new shares are preferentially allocated to ordinary shareholders of the parent company," and added, "I will institutionalize the principle that treasury shares of listed companies should, in principle, be canceled and returned to the benefit of shareholders."