President Lee: "KOSPI 8,000 Breakthrough Driven by Trust... All Citizens Benefit from Rising National Pension Assets"

President Lee Holds First Anniversary Press Conference
Trust in Government and Semiconductor Boom Drive Market
"Pension Depletion Point Delayed by Decades"

President Lee Jae-myung assessed the recent breakthrough of the KOSPI index surpassing the 8,000 mark as a result of both trust in the government and a semiconductor boom, noting that the resulting stock market rally has increased the asset value of the National Pension Service, thereby benefiting the entire population.

President Lee Jae-myung is speaking at a press conference held on the 8th at the State Guesthouse in Cheongwadae to mark the first anniversary of his inauguration. Photo by Yonhap News

At a press conference marking the first anniversary of his inauguration, held at the State Guest House of the Blue House on the morning of June 8, President Lee stated, "I expected the stock index to reach 5,000 after two or three years in office, but it happened in just six months. I believe this was due to trust." He added, "With the semiconductor boom, I think this alone accounts for 2,000 to 3,000 points of the KOSPI index."

He went on to say, "We didn't create new circumstances; it was a process of normalizing abnormalities. Once I was convinced that normalization was underway, there was no longer any reason to wait two to three years for KOSPI 5,000." He continued, "I believed that just by addressing abnormal issues—such as easing geopolitical instability, clearly presenting national industrial and economic policies, preventing stock price manipulation, and resolving dual listings—the KOSPI could reach 5,000."

Regarding stock market volatility, President Lee explained, "The stock market cannot rise every day, nor can it fall every day. It is a process of finding an appropriate price equilibrium." He added, "Some may say that a major crash has occurred just because the KOSPI dropped below 8,000, but compared to 2,700, it has come up tremendously."

President Lee also emphasized that the benefits of the rising stock market are not limited to those holding large-cap or semiconductor stocks, but are shared by the entire population. He said, "As the asset value of the National Pension Service has increased significantly, all citizens are benefiting." He continued, "There were media reports that the depletion point of the National Pension Service has been extended by 24 years, and it is true that it has been extended by several decades. Concerns among the younger generation about depletion have somewhat decreased."

President Lee also pointed out that the surge in stock prices has led to a rise in the won-dollar exchange rate. He said, "Since the stock prices have risen too rapidly, they are having an abnormal impact on the foreign exchange market. The rise in stock prices has become a reason for the exchange rate to climb." He added, "Because stock prices have risen too quickly, the proportion of domestic stocks held by funds and other institutions has become excessively high. What used to be a 2% share has turned into 10%, and so adjustments are necessary."

President Lee Jae-myung is speaking at a press conference held at the Blue House State Guest House on the 1st anniversary of his inauguration on the 8th. Photo by Yonhap News

On this day, President Lee also announced plans for a large-scale investment project. He stated, "The fruits of growth must not remain confined to specific companies, regions, or sectors," and added, "We will soon unveil to the public a large-scale investment project that will mark a major shift in our growth strategy."

He also expressed his determination to normalize the market. President Lee emphasized, "Any form of cheating or unfairness that undermines the lives of the people, no matter how trivial it may seem, will be resolutely corrected, and we will more vigorously pursue the normalization of abnormalities throughout society." He added, "We will thoroughly crack down on livelihood crimes such as stock price manipulation and real estate crimes that disrupt market order, and we will steadfastly carry out structural reforms to dismantle privileges."

This content was produced with the assistance of AI translation services.