[Financial News] On the 4th, Jeong Eun-bo, Chairman of the Korea Exchange, emphasized the role of the domestic capital market as a platform for fair asset management and wealth growth for investors.
During his opening speech at the ‘Korea Capital Market Conference 2024′ held at Conrad Hotel in Yeouido, Seoul, Chairman Jeong noted that the Korean stock market started in 1956 with 12 listed companies and has now grown into a global stock market, ranking 11th in market capitalization, 4th in liquidity, and with a foreign ownership ratio of 30%. He stated, “Despite this quantitative growth, we still have a long way to go.”
He outlined three directions the Korea Exchange aims to pursue: actively promoting the Value-Up program, enhancing global competitiveness, and strengthening support for ESG (Environmental, Social, and Governance) initiatives.
Chairman Jeong expressed his intent to actively promote the Value-Up program by ensuring companies disclose their future management goals so that investors can consider them when investing, thus resolving the information asymmetry between companies and investors and ensuring that stock prices are properly evaluated in the market.
Furthermore, he mentioned that from June next year, the exchange plans to introduce night trading for the derivatives market to further enhance foreign investors’ access to the domestic market, thereby expanding the demand base of the Korean capital market and strengthening global competitiveness.
He also added, “ESG management is a measure of corporate sustainability and a major investment criterion for investors,” stating that the exchange will promote ESG activities of listed companies and support the activation of ESG disclosures.
Financial Services Commission Chairman Kim Byung-hwan also delivered congratulatory remarks at the conference, expressing concern that the recent performance of the domestic stock market is being evaluated as sluggish compared to overseas markets, while domestic investors are increasing their direct investments in overseas stock markets.
Chairman Kim stressed the need for improving corporate perceptions, practices, and culture for the Value-Up initiative, explaining that the Financial Services Commission is implementing corporate Value-Up as a key policy to spread a culture focused on shareholder value.
He reiterated, “The Value-Up of our stock market is a common task and goal that we all aspire to with one mind and one heart,” and emphasized that it cannot be achieved solely through government logic, the power of market participants, investors, or corporate change alone. “We must go together,” he said.
During the event, a ceremony was held to commemorate the listing of 12 exchange-traded funds (ETFs) and one exchange-traded note (ETN) based on the Korea Value-Up index. The scale of the 13 index-linked products amounts to 511 billion won. Previously, the exchange had decided to create a 200 billion won Value-Up fund in collaboration with related securities institutions like the Korea Securities Finance Corporation, the Korea Securities Depository, the Korea Financial Investment Association, and Koscom.