ME News reports that on June 8 (UTC+8), during a press conference marking his first year in office, South Korean President Lee Jae-myung stated that the Korean stock market remains undervalued. Earlier, the Seoul Composite Index initially plunged 8.8% at the open on Monday, triggering a circuit breaker, while Samsung Electronics fell as much as 10%. In response, the Korea Exchange held an emergency market assessment meeting, announcing it would strengthen emergency response measures and enhance surveillance of illegal short selling and unfair trading practices. Lee also said South Korea will advance the integration of AI across all industries, prepare large-scale investment projects related to the semiconductor sector, and accelerate housing supply while increasing tax burdens on non-owner-occupied real estate. (Source: ChainCatcher)
South Korean President Yoon Suk-yeol says the stock market remains undervalued.
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Summary
On June 8, South Korean President Yoon Suk-yeol stated that the stock market remains undervalued despite a sharp decline in the Fear & Greed Index. The Seoul Composite Index dropped 8.8% at open, triggering a circuit breaker, with Samsung Electronics falling as much as 10%. The Korea Exchange convened an emergency meeting to monitor illegal short-selling and abnormal trading volumes. Yoon also outlined plans to expand AI adoption, increase investments in semiconductors, boost housing supply, and raise taxes on non-owner-occupied properties.
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