On January 2nd, at the Korea Exchange, participants including Kim Byung-hwan, the Financial Services Commission Chairman, pressed the opening ceremony buzzer during the “2025 Securities Derivatives Market Opening Ceremony.” Both ruling and opposition parties, along with the government and related organizations, came together to wish for the recovery and upward trend of the stock market for the year. The National Assembly promised to resolve political uncertainties and improve investment conditions, while the government expressed its commitment to actively pursue institutional improvements to invigorate the capital market.
The Korea Exchange held the “2025 Securities-Derivatives Market Opening Ceremony” at its Yeouido, Seoul office at 10 a.m. on January 2nd. Attendees included Korea Exchange Chairman Jeong Eun-bo, People Power Party Floor Leader Kweon Seong-dong, Democratic Party of Korea Stock Market Revitalization Task Force Head Oh Ki-hyung, Financial Services Commission Chairman Kim Byung-hwan, and Financial Supervisory Service Governor Lee Bok-hyun.
Chairman Jeong noted the significant difficulties faced by Korea’s capital market last year, citing domestic demand contraction, slowed exports, global conflicts, and domestic political situations, which weakened the growth potential of Korean companies and resulted in a sluggish market.
He further highlighted ongoing domestic economic slowdowns and the rise of protectionism as persistent market risk factors, and he discussed the continued presence of the “Korea Discount” as a fundamental issue facing the capital market.
Jeong affirmed the exchange’s commitment to managing market uncertainties and pursuing various initiatives for new growth. He identified plans to continuously advance the value-addition program, actively develop data and index businesses as key revenue sources akin to global exchanges, and explore new areas in the capital market by benchmarking international cases in innovative projects like cryptocurrency ETFs.
Kweon, the floor leader, apologized for the political realm’s inadequate role in capital market weaknesses, pledging unwavering efforts to improve capital market regulations. He noted that uncertainty is the stock market’s biggest frustration and admitted that political confusion beginning in December last year had significantly impacted both the economy and the stock market, expressing regret in his role as floor leader of the ruling party. He assured cooperative efforts with the government and ruling party to stabilize, recover, and progress the stock market and achieve goals such as the abolition of the financial investment tax.
Director Oh emphasized the early resolution of political uncertainties and the importance of efforts to entice foreign investors back to the domestic market. He asserted that separating politics from the economy is essential to convey a message of a restored and predictable economic system to investors, making it imperative for both the National Assembly and the government to ensure system functionality and performance as a primary task. He also advocated for institutional improvements, pointing out the necessity for amendments in corporate and capital market laws and measures to combat unfair practices in the capital market.
Financial Services Commission Chairman Kim Byung-hwan acknowledged that there is still much work to be done against a backdrop of rigorous market assessments, noting the challenges faced both domestically and internationally as the stock market opens. However, he remains optimistic that, with the combined efforts and wisdom of all involved, the capital market can further develop this year. He promised that the government would maintain a focus on market stability and continued value-addition policies amid ongoing uncertainties and volatility. Additionally, he proposed improvements to strengthen delisting criteria and procedures as well as IPO system reforms to enhance public offering pricing rationality.