South Korean President Lee Jae-myung: The South Korean stock market is still undervalued

South Korean President Lee Jae-myung stated at a press conference marking his first anniversary in office that the South Korean stock market is currently still undervalued.

Previously, the South Korea Composite Stock Price Index (KOSPI) fell by 8.8% at one point during Monday's trading session, triggering a circuit breaker, with Samsung Electronics experiencing a decline of up to 10%. The Korea Exchange subsequently held an emergency market assessment meeting, stating that it would strengthen emergency responses and increase monitoring of illegal short selling and unfair trading.

Lee Jae-myung also mentioned that South Korea will promote the integrated application of AI across all industries, prepare large-scale investment projects related to the chip industry, and accelerate housing supply in the real estate sector while increasing the tax burden on non-owner-occupied property holders.