Finance Commissioner Eun Seong-soo answers questions at a year-end press conference held online at the joint briefing room of the Seoul Government Complex in Jongno-gu, Seoul on the 14th./Photo = Financial Committee (2020.12.14)
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[한국금융신문 한아란 기자]
Eun Seongsuclose
Eun SeongsuCollect articles The chairman of the Financial Services Commission said, “It is largely due to the recovery of the Korean economy and corporate performance,” as the KOSPI exceeded the 3000 line.
Chairman Eun said at the weekly business meeting on the 8th, saying, “Korea is expected to have the highest economic growth rate last year among OECD (Economic Cooperation and Development Organization) countries.”
The KOSPI index broke the 3000 line for the first time in history based on the closing price on the 7th. On the 8th, it surged 120.50 points (3.97%) compared to the previous trading day, closing at 3152.18. The market capitalization reached 2087 trillion won based on the closing price on the 7th. This is a scale that has more than doubled compared to July 2007 (996 trillion won) when the stock index first exceeded 2000.
Chairman Eun said, “It is positive that our industrial structure is diversifying into system semiconductors, eco-friendly vehicles, and bio-health through the government’s future-oriented materials, parts and equipment industries and policies to foster new industries (BIG3).”
In addition, “the people also actively participated in the market and became one of the pillars of the stock market.” In addition, the recent stock index exceeding 3100 points was attributed to the large contribution of foreign net buying, which is why foreign investors have also contributed to the Korean economy and the stock market. He diagnosed as disproving that he was evaluating positively.”
Chairman Eun also revealed his plan to make more active efforts to sustain and reinforce this positive trend. He said, “We will actively respond to the ongoing new coronavirus infection (Corona 19) crisis and uncertainty,” he said. “According to the trend of Corona 19, it will serve as a safety plate for the financial market at any time.”
“We will continue to innovate to make the capital market an attractive investment destination,” he said. “We will promote the development and listing of new products to meet the investment demand and create market conditions for long-term investment.”
For illegal and unsound acts in the capital market, the centralized response team for illegal and unsound acts in the stock market, financial authorities, exchanges, prosecutors, etc. Through this, it was decided to respond strictly and to establish the recognition that it is always caught and punished.
Policy efforts are also strengthened so that market liquidity can flow into the real world. The Financial Services Commission decided to provide comprehensive services such as loans, guarantees, and investment advice to ventures and innovative companies through the’National Innovative Company 1000′ program. Currently, 279 companies have been selected, and more than 200 companies are expected to be selected every half year.
In the market, there are voices of concern about overheating as well as expectations for an additional rise over the recent KOSPI surge in the short term. Chairman Eun said, “In the era of 3,000-point stock prices, anxiety and expectations are crossing. Above all, it is important to invest within the scope of your investment capacity through an accurate analysis of corporate performance.”
The FSC employees were asked to “make efforts to establish the investment principle that investment is made under self-responsibility and to establish a mature investment culture.”
Reporter Han Aran [email protected]