Lee Jae-myung, a candidate for the Democratic Party of Korea's presidential primary, has made a campaign pledge to alleviate the 'Korea discount' (undervaluation of the domestic stock market) through reform of corporate governance and economic growth plans, aiming to achieve a Korea Composite Stock Price Index of 5,000. He also promised to significantly expand research and development (R&D) budgets in celebration of Science Day.
The candidate noted on Facebook on the 21st, "I will eliminate the Korea discount through recovery and growth and open the era of a 5,000 stock index."
The candidate proposed several measures to activate the stock market, including ▲ phased reform of abnormal corporate governance ▲ establishment of a long-term government economic and industrial roadmap ▲ strong responses to unfair transactions, including stock manipulation ▲ amendments to the Commercial Code to protect shareholder interests ▲ and resolving geopolitical security risks.
He stated, "The number of stock investors in Korea has exceeded 14 million. Now, our people need an advanced stock market where they can properly grow their assets," adding, "We must make the capital market an attractive investment destination so that we can trust and invest in innovative corporations."
He emphasized, "In our stock market, there has been a deep distrust that 'even if one makes money through stock manipulation, as long as they have power, they will not be punished,' and I will introduce the 'one-strike-out policy' so that anyone involved in stock manipulation will never be able to set foot in the stock market again."
The candidate also said, "I will end the era of the Korea discount and open the era of the 'Korea premium,'" asserting, "Once fair and rational corporate management and market order are established, our stock market will be able to achieve a groundbreaking leap."
The science and technology pledges were also announced on the same day. He promised ▲ a significant expansion of R&D budgets ▲ increased support for national strategic technologies ▲ improved treatment for scientists and researchers ▲ concentrated investment in regional national universities and science and technology institutes ▲ and promotion of regional autonomous R&D.
He emphasized, "We will gather all our capabilities and wisdom to make Korea a leading science and technology nation," adding, "We will fully support the improvement of treatment for students in science and technology fields and postdoctoral researchers to cultivate core talent in science and technology so that talented individuals do not leave and gather in Korea."