Korea Exchange (KRX) on the 3rd held the "KOSPI 5000 and Beyond Seminar" to mark the KOSPI index reaching 5,000 points. Korea Exchange (KRX) Chairperson Jeong Eun-bo said, "We will strengthen market confidence by advancing the market surveillance system based on artificial intelligence (AI) technology and by reinforcing the delisting of insolvent companies."
The "KOSPI 5000 and Beyond" seminar, held that morning at the Korea Exchange (KRX) PR Center in Yeouido, Seoul, was prepared to assess the current state of the domestic securities market with academia and capital market experts, and to discuss market outlook after KOSPI 5000 and tasks for the capital market.
In commemorative remarks, Jeong said, "Our task is to move beyond KOSPI 5000 toward a premium market based on trust and innovation," adding, "To that end, we will first build a fair and trusted market."
Jeong added, "We will advance the market surveillance system based on AI technology and strengthen the exit of insolvent companies to solidify market confidence," and "We will strengthen the capital market's role in productive finance."
In addition, ◇ to vitalize venture capital, promote listings of cutting-edge innovation companies such as AI, space, and robotics ◇ pursue qualitative improvement of the capital market through market structure reforms and programs to raise corporate value ◇ advance market infrastructure by extending trading hours and shortening the clearing and settlement cycle ◇ advance English disclosures and dividend procedures, among others.
Financial Services Commission (FSC) Chair Lee Eog-weon said, "Breaking through 5,000 points on the KOSPI is a new starting line and, at the same time, the point at which greater responsibility begins," adding, "We will continue to strengthen efforts to fundamentally improve the market's underlying structure so the capital market's vitality can continue, and in particular, we will root out unfair transactions in the market by sharply raising whistleblower rewards."
In the second part of the seminar, NH Investment & Securities Head of Research Cho Su-hong presented on the theme "The era of KOSPI 5000, conditions for settling and leaping forward," proposing a sustainable growth direction for Korea's capital market from the perspectives of corporate earnings growth and structural improvement of the capital market.
Shinyoung Securities Head of Research Kim Hak-kyun, in a presentation titled "How stock price gains contribute to the Korean economy," assessed the performance of Korea's stock market and explained the positive impact of stock price increases on household asset growth and capital flows.
In the subsequent panel discussion, recommendations continued from the perspectives of key market participants, including the government, academia, the financial investment industry, and individuals, for sustainable capital market growth after KOSPI 5000.
There was also talk of speeding up the market exit of zombie companies. Ko Young-ho, director of the Capital Markets Division at the Financial Services Commission (FSC), who took part in the panel discussion, said, "As we plan to establish a separate delisting review team within the exchange this year, the exit of zombie companies will accelerate further."
He emphasized, "In the KOSDAQ market, market capitalization has increased, but the index has not risen as much because, compared with companies entering, there were no companies exiting."