On the morning of January 2nd, President Yoon Suk-yeolattended the '2024 Securities and Derivatives Market Opening Ceremony' held at the Korea Exchange Seoul Office. This marks a significant event, as it is the first time in history that the incumbent president has participated in the stock market opening ceremony.
President Yoon, who had attended similar ceremonies during his presidential campaign, emphasized the pivotal role of the capital market in the development of a free-market economy. His presence at the event today signifies a commitment to encouraging the advancement of the nation's capital market.
In his address, the President characterized the stock market as the 'arena of mutual growth,' where the nation and businesses grow together. He also referred to it as the 'ladder of opportunities,' supporting the accumulation of the nation's assets. President Yoon highlighted the importance of activating the financial investment sector to prevent social stratification and enhance societal dynamism.
Addressing the undervaluation of the stock market in South Korea, despite the presence of globally competitive companies, President Yoon expressed his commitment to resolving the 'Korea Discount' through the deregulation of the capital market during his term.
The President announced plans to prepare 'short selling reform measures' smoothly, promote the abolition of the financial investment income tax, and positively consider amendments to commercial laws to enhance benefits for small shareholders. Additionally, he disclosed intentions to significantly expand programs supporting the formation of national assets, such as Individual Savings Accounts (ISA).
In conclusion, President Yoon pledged to support a fair market through continuous communication with market participants. The event saw the attendance of approximately 160 professionals from the financial investment industry. Notable government and authority figures present included Prime Minister Cho Sang-mok, who also serves as the Minister of Economy and Finance, Financial Services Commission Chairman Kim Joo-hyun and so on.