"Down 17% — 'This Is Too Much'... Frustrated Shareholders Enter Politics Themselves"

Korea Shareholders’ Campaign Headquarters Announces Launch of "People and Shareholders" Party

Amid a steep recent decline in the domestic stock market, the Korea Shareholders' Rights Movement Headquarters, a shareholders' rights group, announced the founding of a provisional political party tentatively named "People and Shareholders."

On the 30th, the Korea Shareholders' Rights Movement Headquarters stated that it had begun recruiting founding members for "People and Shareholders."

The KOSPI index opened at 5,681.77, up 18.53 points from the previous trading day on the 30th. The electronic board showing the status of the domestic stock market is displayed in the dealing room at the headquarters of Hana Bank in Jung-gu, Seoul. 2026.7.30 Photo by Kang Jin-hyung

The headquarters commented, "There has been labor, there have been management, and there has been government, yet absent is the ‘owner of interests’—the shareholders themselves." It went on, "At every meeting where the company’s vaults are opened and closed, only the vault’s rightful owner remains outside the door. This is because the political structure of Korea is designed to amplify the voices of the organized minority and erase the voices of the unorganized majority."

The statement continued, "After the judgement rendered by the people in the local elections in June, we waited, expecting the government and the ruling party to take note of the public sentiment and change course. Yet, at the end of our wait, what we witnessed was an even more anti-market thesis—one where the state and society would extract corporate profits, and where, by publicly declaring a management roadmap spanning over 15 years in the style of state control, even shareholders’ rights to decide the company’s future were stripped away."

The headquarters also commented on the recent sharp drop in the domestic stock market. On the 30th, the KOSPI closed at 5,593.56, down 1.23% from the previous day. For the first time in history, both the KOSPI and KOSDAQ triggered circuit breakers simultaneously for two consecutive days on July 28 and July 29. Since July 27 (when the KOSPI stood at 6,755.75), the index has plummeted by 1,162.19 points—equivalent to a 17% decline.

The organization pointed out, "SK hynix reported record-high quarterly operating profit exceeding 60 trillion won, but failed to present a plan for shareholder returns, which only led to a stock price crash. A market where record earnings do not benefit shareholders is exactly the structure we have warned about for the past four months."

The group also demanded accountability from the policy chief at the presidential office, the Minister of Employment and Labor, and others. "Those responsible for shifting profit distribution to a collective bargaining framework and undermining market principles, for publicizing the notion of corporate profit being socially reappropriated, and for failing to set a corrective course as trust in the capital market collapsed, bear serious responsibility," the organization said. "As long as individuals who have undermined these principles remain in their positions, the market will not trust any measures proposed by the government."

The headquarters plans to recruit at least 200 founding members for the central party, as well as at least 100 members for each city/provincial branch, and will then hold a party inaugural meeting and file for the formation of a central party preparatory committee. Afterward, they aim to establish branches in at least five cities or provinces, secure at least 1,000 party members at each branch, and proceed with the official central party registration process.

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