Key facts
- Lee instructed aides to seek measures improving corporate valuations and shareholder returns and attracting long-term investments.
- Lee said government efforts should focus on creating an environment where the capital market receives its fair valuation.
- Lee said the capital market has been significantly affected by recent external uncertainties.
President Lee Jae Myung said on November 12 that South Korea's capital market remains undervalued and called for measures to strengthen its global competitiveness and draw long-term investment, Yonhap reported. He spoke at a meeting with key aides at Cheong Wa Dae in Seoul.
Lee said the market had been significantly affected by recent external uncertainties. Given the country's economic fundamentals and corporate competitiveness, he said the capital market "is an attractive investment destination that still remains undervalued."
He said government efforts should focus on creating an environment in which the capital market receives its fair valuation, so that its sound development translates into increased household wealth and improved livelihoods. He instructed his aides to pursue measures to improve corporate valuations and shareholder returns and to attract long-term investments.
"A greater economic leap forward would be possible if the capital market spearheads economic development by supporting corporate innovation and investment, which, in turn, would help strengthen the capital market," Lee said.
The KOSPI reached an all-time closing high of 9,114.55 points in late June and closed at 5,342.73 points on November 12.