Lee Jae-myung: Necessary Measures Will Be Taken to Normalize the Stock Market

Odaily reports: In response to the recent stock market decline that has caused a significant shrinkage in the valuation of domestic Korean stocks held by the National Pension Service, South Korean President Lee Jae-myung stated on the 19th: "We are continuously assessing what policy measures need to be taken to normalize the stock market. We will hear a comprehensive report in the near future and take necessary measures."

Lee Jae-myung said: "After a sharp rise in stock prices, a correction is inevitable, and no one knows to what extent the correction will go. Unlike in the past, it is now difficult for the government to directly intervene in the financial market or securities market, and doing so is not advisable." However, he pointed out: "The Korean stock market is severely undervalued. One of the biggest reasons for this phenomenon is that negative perceptions of transparency and fairness in the market have not yet been completely eliminated."

Regarding market trends and prospects, he said the government is monitoring closely. He said: "In the stock market, many people keep telling themselves over and over 'it won't fall, it won't fall,' and end up getting stuck holding losses. We need to minimize this situation as much as possible." (Yonhap)