[아침신문 솎아보기] Media Concerns’Anxiety’ Over First Breakthrough of KOSPI 3000 History

The KOSPI index exceeded 3000 units for the first time ever. It has been 13 years and 5 months since it crossed the 2000 line in July 2007. Newspapers on the 7th analyzed that a lot of money was released by the expansion of fiscal expenditures to overcome the coronavirus, a fever for personal investment was blowing, and rechargeable batteries and bios showed good performance. Newspapers generally affirmed that the stock market is revitalized, citing concerns about short-term bubbles and side effects at the same time.

The following is the headline of the first page of the National Morning General Newspaper on the 7th.

Kyunghyang Shinmun: KRW 75 trillion in damage to the tourism industry
Kookmin Ilbo:’The power of Donghak ants’… I stepped on the first 3000 mark in the history of the KOSPI
Dong-A Ilbo: The alarm sound that rang together on the day’Three thousand blood’ was taken
Seoul newspaper: KOSPI 3000 touch, the power of Donghak ants Uneasy new history
Segye Ilbo: With the power of Donghak ants… Anxious’bull intestine’
Chosun Ilbo: Park Geun-hye reviews pardon, Lee Myung-bak withhold
JoongAng Ilbo: Deputy Mayor of Three Months, Greetings from Seoul City
Hankyoreh: KOSPI intraday 3000’overheating warning’ was also broken
Hankook Ilbo:’KOSPI 3000′ where you can’t just laugh

Excluding the Chosun Ilbo and JoongAng Ilbo, seven morning newspapers covered this news on the front page. Six newspapers were posted as headlines. Newspapers cited the stock craze of individual investors as the biggest driving force, and analyzed that the market liquidity was abundant with low interest rates, and that the domestic and international economy this year was expected to be better than before. He also cited the strong performance of new growth industries such as semiconductors and automobiles as a factor.

The newspapers analyzed that they could not only be optimistic while conveying the positive outlook of the securities industry at different degrees. Although the securities industry is showing expectations, such as looking at the 3,300 line maximum within the year, expectations are overheated or bubbling over low interest rate liquidity and individual investors’ firepower.

On the first page of the Hankook Ilbo, “KOSPI 3000”, where you can’t just laugh, said, “The stock market on this day couldn’t continue the uptrend at the beginning and closed at 2968.21, down 22.36 points (0.75%) from the previous day.” He also said, “The stock price is excessively ahead of the real index such as nominal gross domestic product (GDP), daily average exports, and corporate profits.”

The Hankook Ilbo also said, “The current KOSPI 12-month leading stock price-earnings ratio (PER) is 13.47 times, which is significantly higher than the 10-year average (9.8 times) and the 5-year average (10.1 times). In a sense, this level of PER is the only one in the 2000 dot-com bubble period.” “It is a phase that appears during a big crisis, like just before the global financial crisis.” The Hankook Ilbo reported that the market is paying attention to the earnings of companies announced in the fourth quarter of last year as prospects diverged in the direction of the KOSPI.

The Kyunghyang Shinmun said, “As the uncertainty of the recovery of the real economy is still high due to the Corona 19 crisis, excessive liquidity in the stock market is a burden to the economy.” The size of the’debt investment’, which is an individual’s borrowing investment, has rapidly increased. Given the large gap, it was said that the stock market could cool rapidly even with small negatives.

The Hankyoreh said, “After breaking through the 2000 line, the KOSPI index was a tedious step. Even after rising to the 2000 line in December 2010, it remained in the 1800s and 2020s for more than five years, and was ridiculed as’boxpi’ and’border farm’. It was.” “The main role that reversed the recession was the individual investors who caused the’Donghak ants’ craze. He said, “I made a plunge and built it.”

In the following article, “A new history of ultra-low interest rate liquidity, ’20 trillion debts’ bubble anxiety,” said, “As of the end of last year, the market capitalization of KOSPI listed companies reached 1,980 trillion 54.3 billion won, reaching 104% of the estimated gross domestic product (GDP), making it the first 100% in history. It is analyzed to be beyond. It was also said to be an excessive rise.” The Kyunghyang Shinmun said in “speeding and overheating stock markets boosted by low interest rate liquidity”. “Most indicators indicate stock market overheating.” “The so-called’Buffett Index’, which is divided by the market capitalization by nominal GDP, also recorded 104.2% as of the end of last year, leading to overheating. It has exceeded the meaning of 1 times.”

In terms of economy on page B1, the Chosun Ilbo said, “The Kospi, which exceeded the 3000 line during the weekday on the 6th, ended at 2968.21, down 0.75% from the previous day, as foreigners and institutions were pushed for strong selling in the afternoon. The record of the all-time high streak stopped on the sixth trading day.” The Chosun Ilbo said, “On this day, the closing price of the KOSPI was 2% lower than the mid-week high. This means that investors are anxious about the soaring stock price every day, and it is a phenomenon that occurred when the stock price was considered expensive compared to the value of the company and sold off.”

JoongAng Ilbo said, “It is the so-called Donghak ant, an individual investor who has emerged as a new game changer that has led the market. Individuals have shared the stock market leadership that foreigners and institutions had been dominated by,” he said. “The situation that individual investors are attracting and pushing is expected to continue for the time being. Armed with thick live ammunition.” In addition to concerns over overheating, the JoongAng Ilbo said, “There is a view that various regulations are blocking roads such as real estate investment and the’panic buying’ on the stock market appears.”

Chosun Ilbo “Blue House, Review of Park Geun-hye’s Amnesty”

The Chosun Ilbo reported in the headline on the front page that the Blue House is known to review plans for the selection of two ex-presidents, Lee Myung-bak and Park Geun-hye, under the title of “Park Geun-hye is pardoned and Lee Myung-bak reviewed withholding”. The Chosun Ilbo said, “The key official of the passport said,’After the two presidents are not pardoned at the same time, the former President Park is first and then Lee is discussing other methods, such as suspension of execution, not pardon. After the Korean Supreme Court ruling, the president will make the final decision by collecting public opinion.’

With Lee Nak-yeon, the Democratic Party’s first filing, opposition has spread, and opposition claims have come out within the Democratic Party, and the’amnesty’, which seemed to be extinguished, was rekindled. The Chosun Ilbo said, “The Cheong Wa Dae’s review of the plan to select and pardon the two former presidents currently incarcerated is analyzed to have taken into account the backlash of the core supporters.” “The Blue House official said,’There is no position regarding the amnesty.’ This is something that can be decided.”

The Chosun Ilbo said on the front page of Palmyeonbong, “Review of the former president’s pardon, release Park and withhold MB. ‘Gaping’ is the main specialty of this regime, but… .”

The Chosun Ilbo said in the article on the fifth page, “The plan to change the measures against former Presidents Lee Myung-bak and Park Geun-hye seems to have taken into account the fact that the two former presidents are in prison, but the fields of crime applied are different.” Former President Lee “has a strong personality of personal corruption,” but President Park “is more prominent in his political character.” “If only former President Park is pardoned, the investigation of former President Lee becomes a form of self-confidence that it is political retaliation. It is also against the purpose of the amnesty of national unity,” he argued.

In addition, the Hankyoreh issued an opinion dealing with the pardon of former President Park Geun-hye on this day. Suk Jin-hwan, deputy director of the issue of the Hankyoreh, mentioned in the column of’In the Editorial Bureau’, Lee Jae-yong, vice chairman of Samsung Electronics, who is scheduled to be sentenced on the 18th. However, it is unlikely that Lee considered the schedule of the election of Vice Chairman Lee, who is both sides of former President Park and Coin, in the case of Gukjeong Nongdan.”

Deputy Director Seok said, “If Vice-Chairman Lee is subject to the chaebol’s 3-5 sentence law (three years imprisonment and five years probation) as civil society concerns, the number of pardons for Lee may be more difficult. As expected, if the highest economic power was indulged in the court’s’big decision’ and the two former presidents were indulged for political decisions, many would be hurt.”

Severe disaster law with endless retreat… Jo Jung-dong, who only conveyed “eupso” in the business world

The Law on Punishment for Companies with Serious Accidents is being debated by the National Assembly Legislative Judicial Committee and is retreating. The ruling and opposition parties agreed on that day at the Judicial Council’s Legislation Review Subcommittee to exclude workplaces with fewer than five employees from the penalty even if a major industrial accident occurs. In addition, by expanding the scope of management managers to the’safety and health business managers’ by adding to the business representatives, the possibility of the management manager getting out of censure opened up. Officers in charge of public officials, ordering companies, and landlords were also removed from the scope of responsibility. The ruling and opposition parties are scheduled to hold a subcommittee on the 7th again to discuss the additional provisions for legal suspension.

The Kyunghyang Shinmun, the Hankyoreh, the Kookmin Ilbo, and the Hankook Ilbo criticized that the severe disaster law is becoming a’raged technique’ as the number of exceptions to the law is increasing endlessly. On the other hand, the Dong-A Ilbo, Chosun Ilbo, and JoongAng Ilbo reported the news that 10 business organizations such as the Korea Employers Federation (Gyeonggi Chongqing) and the Small and Medium Business Federation made a statement and insisted, “Please set an upper limit on punishment for business owners.”

The Hankyoreh wrote in an editorial, “A matter that has workers’ lives must not be ended with a legislative law for concealment. If the agreement between the opposition parties is dealt with at the plenary meeting on the 8th, there will be requests for supplementation and revision again.” “The management community should also be self-sufficient. I hope that we will do our best to stop the deaths of workers without pressure to further ease the agreement between the two parties.”

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