Lee: "I Will Personally Oversee Capital Market Reform"... Orders Formation of Dedicated Body

"There May Have Been Some Complacency": Revamp the Reform Framework
Move Quickly to Require Listed Companies to Hold Annual IR Events

President Lee Jae Myung on Nov. 13 ordered the swift formation of a high-level body dedicated to capital market reform and directed that it report key policy tasks directly to him. The move is intended to establish a separate framework for reforming corporate governance and the broader market order, beyond individual measures to boost the stock market. He also called for the swift implementation of a plan to require listed companies to hold investor relations (IR) events at least once a year.

President Lee Jaemyung takes part in a discussion after listening to an expert presentation on revitalizing the capital market at a policy meeting at the Korea Exchange’s information center in Yeouido, Seoul, on Nov. 13, 2026. Yonhap News.

At a capital market policy meeting held that day at the Korea Exchange in Yeouido, Seoul, President Lee said, "It seems there is so much that needs to be done specifically for the capital market," adding, "I would like to establish a high-level body dedicated to tackling these issues."

He also reflected on the existing policy process. "We should have established a dedicated body and pushed ahead forcefully, but in fact, things seemed to be going so easily and well that we may have become somewhat complacent," he said. He added, "After hearing today's discussion, it does not seem that we have a complete, 100% understanding of the current situation," citing the state of information disclosure in the market.

The plan is to include not only politicians from the ruling and opposition parties but also the Korea Exchange, investment institutions, relevant associations and private-sector experts in the new body. President Lee said, "The discussions should not be led by the government; everyone should participate as equal colleagues and debate vigorously." He added, "If opinions clash sharply, clarify the issues for each matter and report them directly to me. We can discuss them together and work things out."

In his closing remarks, he said, "I will personally make sure this is completed as quickly as possible," and stressed that the structure should be established promptly, followed by the necessary legal and administrative measures and revisions to market operating rules.

The discussion also touched on listed companies' inadequate provision of investment information. Lee Geon-jae, head of the KOSDAQ Research Center at IBK Investment & Securities, said many companies refuse visits from securities firms or are reluctant to hold IR events. He noted that last year, only about 30% of KOSPI-listed companies and 26% of KOSDAQ-listed companies disclosed their IR plans. President Lee responded, "It makes you wonder whether companies in that situation deserve to remain in the market," adding, "I learned this for the first time today. I had no idea it was that bad." He criticized the practice of companies benefiting from access to capital through listing while failing to explain their performance and growth strategies to investors.

The Korea Exchange said it is considering revising its rules to require listed companies to hold IR events at least once a year throughout their listing period. New KOSDAQ-listed companies are currently required to hold an IR event once a year for two years after listing; the proposed change would extend this requirement for as long as they remain listed. After asking, "When will you make the change?" President Lee urged the exchange to act swiftly, adding, "If necessary, we should establish this as a formal requirement." He also noted that the change could be made by revising the exchange's listing rules, without legislation by the National Assembly.

The lack of English-language IR materials for foreign investors was also raised. President Lee asked, "How difficult is it to prepare materials in English or other major foreign languages and post them online?" He added, "Couldn't you just have ChatGPT do it?"

President Lee stressed, "Wouldn't taking many small but immediate steps have the same effect as changing major rules?" His remarks signaled an intention to address specific problems in market operations directly, rather than relying solely on large-scale legal revisions.

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