Lee Jaemyung Visits Korea Financial Investment Association: "Will Re-push Commercial Act Amendment... Aim for Stock Index to Surpass 5,000"

Former Democratic Party presidential candidate Jae Myung Lee stated on the 21st, "If the stock index surpasses 5,000, the nation's wealth, the assets of stockholders, and the value of companies will all increase."

Former Democratic Party presidential candidate Jae Myung Lee (right in the photo) is attending the "Policy Meeting for Revitalizing the Capital Market" held at the Korea Financial Investment Association in Yeouido, Seoul, on the 21st. Photo by Dongjoo Yoon

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Lee made these remarks while attending the "Policy Meeting for Revitalizing the Capital Market" held at the Korea Financial Investment Association in Yeouido, Yeongdeungpo-gu, Seoul, emphasizing the need to normalize and revitalize the capital market. The meeting was attended by Chairman Seo Yooseok, Executive Director Kim Jinok, Executive Director Cheon Seongdae, and other executives of the association, as well as heads of major domestic securities research centers.

At the event, Lee said, "The South Korean economy is facing severe difficulties right now," adding, "Economic issues are directly linked to the lives of the people. It is crucial that the capital market is normalized and revitalized."

He continued, "The asset market in Korea is overly concentrated in real estate, which has led to many negative consequences. The capital market is abnormal, which is why people invest in real estate. In advanced countries, the foundation for stock investment is well established, but in our country, dividends are not paid out properly and stock prices do not rise easily."

Regarding the practice of companies relisting after physical spin-offs, he said, "I thought I was making a long-term investment in a blue-chip stock, but one day, it gives birth to a 'calf,' and the owner of the calf turns out to be someone else. Because of issues like this, there is even a joke that 'the smartest people are the first to escape the Korean stock market.'"

He added, "If I quit politics, there is a 99.9% chance I will return to the stock market. That is how interested I am in this field. The Korean stock index is currently fluctuating around 2,500, but if it could surpass 4,000 or 5,000, wouldn't the total assets of Korea increase?"

He also said, "The Korea Discount is far too severe. In a country where there are concerns about war, it is difficult for foreign investors to invest. The recent amendment to the Commercial Act also failed, but it needs to be pursued again as soon as possible."

Earlier that morning, Lee announced on Facebook his pledges to re-push for the amendment of the Commercial Act and to introduce a one-strike-out system for stock price manipulation.

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