Jung Eun-bo, chairman of the Korea Exchange, emphasized that he would push to achieve capital market value enhancement this year and secure future growth drivers so that the exchange can create "Korea Premium."
On the afternoon of the 11th, the Korea Exchange held a New Year press conference in its Seoul office in Yeouido and announced its core strategies for the exchange toward "Korea Premium."
During the conference, Chairman Jung presented four main strategies and 12 implementation tasks, including ▲ achieving capital market value enhancement ▲ securing future growth drivers ▲ enhancing investor trust ▲ strengthening global competitiveness.
First, to achieve capital market value enhancement, it plans to select and award value-enhancing outstanding corporations and expand corporate meetings and consulting. It will also increase the input of value-enhancing funds and actively support policy initiatives.
Efforts will also be made to open the index usage rights, allow the overseas listing of Korean index derivatives, and strengthen overseas marketing to be included in global advanced indices. In June this year, with the introduction of night trading in the derivatives market, investor benefits such as risk hedging in the nighttime will be enhanced.
The exchange will strengthen its index and information business capabilities this year while diversifying its revenue models. It intends to establish a data production, management, and distribution system that aligns with the era of artificial intelligence (AI) and to advance its data and index business based on the expansion of innovative index lineups.
As a measure to expand new investment demand, it will start clearing the Korea Overnight Financing Rate (KOFR) OIS (overnight interest rates applied to transactions between financial institutions). The listing of KOSDAQ 150 weekly options and emissions trading futures will also be promoted, while plans to expand the line-up of financial investment products will be pursued.
To enhance investor trust, it will strengthen the exit of insolvent and marginal corporations and continuously improve the market management system based on efforts to enhance the soundness of the initial public offering (IPO) market. To this end, the exchange will strengthen delisting requirements, streamline related procedures, and enhance investor protection measures.
It also noted that it will establish a system to block illegal short selling through the introduction of a central short selling inspection system (NSDS) to gain the trust of investors. Short selling will resume on the 31st of next month.
The exchange explained that, following the launch of "Next Trade," the first alternative trading system (ATS) in the country on March 4, it will establish an integrated market operation, clearing, settlement, and market monitoring system to create a stable and efficient trading environment.
Chairman Jung said, "To strengthen global competitiveness, we will find response directions through analyzing the diversification strategies of major overseas exchanges and continuously expand the business areas of the exchange."
This year, the exchange plans to open overseas offices in New York and London to strengthen marketing and promotion of K-value enhancement targeted at global institutional investors. Along with this, to establish a disclosure system that meets global standards, it will build a next-generation listing disclosure system applying the international standard (XBRL2.1) and promote the advancement of English disclosure translation services.
Additionally, the exchange plans to pursue the establishment of a finance-specialized autonomous private high school and continue nurturing unicorn corporations in the Busan region and customized social contribution projects to mark the 20th anniversary of its headquarters transfer to Busan.
Chairman Jung stated, "In response to the heightened uncertainties at home and abroad, we will carry out strategic tasks without flaws to help Korea leap forward as a 'Premier Capital Market.'"