After the government implemented its "Value-up Program," the amounts for share buybacks and cancellations hit all-time highs. The Value-up Program is a program to enhance the corporate value of listed companies to resolve the chronic undervaluation of the Korean stock market.
Korea Exchange (KRX) said on the 8th that the amount of share buybacks rose from 8.2 trillion won in 2023 to 20.1 trillion won in 2025, marking a record high. During the same period, the amount of share cancellations also expanded sharply from 4.8 trillion won to 21.4 trillion won.
Cash dividends also steadily increased. After 43.1 trillion won in 2023 and 45.8 trillion won in 2024, the amount expanded to 50.9 trillion won in 2025.
Amid this trend of expanded shareholder returns, the Korea Value-up Index also strengthened. The Korea Value-up Index hit a record high of 1,797.52 points, up 89.4% from the end of the previous year. That outpaced the KOSPI's rise (75.6%) over the same period by 13.8 percentage points.
Valuation indicators in the domestic stock market also improved. Based on the Morgan Stanley Capital International (MSCI) Korea Index, the price-to-book ratio (PBR) rose from 0.88 at the end of 2024 to 1.59 at the end of 2025, and the price-to-earnings ratio (PER) increased from 11.37 to 17.47 over the same period.
Meanwhile, Korea Exchange (KRX) has promoted commendations for outstanding corporations, the publication of a white paper, stronger support for listed corporations, and regular rebalancing of the Korea Value-up Index as part of the program to enhance corporate value. The 10 outstanding listed corporations named were HD Hyundai Electric, KB Financial Group, Meritz Financial Group, Samyang Foods, KT&G, Samsung Fire & Marine Insurance, Shinhan Financial Group, Hyundai GLOVIS, KT, and SK hynix.
Korea Exchange (KRX) said it will continue to push the program to enhance corporate value so that the government's capital market revitalization policy is implemented smoothly and a culture that respects shareholder value takes root.