Seoul: President Lee Jae-myung has called for stringent regulatory actions to combat stock manipulation and unfair trading practices, aiming to restore investor trust and invigorate the financial markets, as stated by his office. Lee emphasized the need for a "fair and transparent" trading environment during his visit to the Korea Exchange, which is the country's primary bourse operator. This visit comes merely a week after his inauguration.
According to Yonhap News Agency, presidential spokesperson Kang Yu-jung communicated that the government plans to implement robust measures against unfair trading. A "one strike, you're out" policy will be enforced for activities like stock manipulation, where illicit gains will be confiscated through fines equivalent to the profits unfairly obtained.
President Lee also highlighted the recent performance of the Korea Composite Stock Price Index (KOSPI), which has increased by 5.81 percent since his assumption of office. This growth supports his campaign promise to elevate the index to 5,000 points. Lee suggested that making stock investment a feasible alternative to real estate could allow citizens to earn interim dividends and cover living expenses, thereby easing capital acquisition for companies and fostering a positive economic cycle within South Korea.
Notably, the KOSPI exceeded 2,900 points earlier in the day, marking the first time in three years and five months.