The reason why the Moon government couldn’t laugh on the day that MB·朴’s dream’stock price 3000′ was taken

In 2005, Park Geun-hye, then head of the Grand National Party, visited the Busan Securities and Futures Exchange and wrote a message saying,’Please lead the logistics hub in Northeast Asia’, smiling brightly. Central photo

#One. On December 14, 2007, former President Lee Myung-bak visited Daewoo Securities in Yeouido, Seoul as a candidate for the Grand National Party’s presidential election. Emphasizing that he was an entrepreneur, he declared, “I will achieve 3000 (KOSPI index) within the term of office next year,” but that day, KOSPI recorded 1895.05, down 1.09% from the previous day. In the first year of President Lee’s inauguration (2008), the global financial crisis hit, and the stock price, which was walking downhill, recovered in the middle of his term and barely reached the 2000 line. Although it rose from the first day of inauguration (1709.13 based on the closing price on February 25, 2008), the pledge to achieve 3000·5000 was in vain.

#2. On December 19, 2012, the KOSPI index was 1993.09. This time, Saenuri Party presidential candidate Park Geun-hye said, “I will definitely open the KOSPI 3000 era within five years” at the Korea Exchange in Yeouido, Seoul. However, he was impeached after the Sewol ferry tragedy and candlelight politics without fulfilling his term of office for five years. The day the Constitutional Court decided to impeach him (March 10, 2017), Kospi ended with 2097.35, a slight increase from the previous day. Throughout the term of President Park, the words that were repeatedly recited by the stock market were “the Korean stock market trapped in the boxpe”.

In December 2007, then Grand National Party presidential candidate Lee Myung-bak visited Daewoo Securities in Yeouido, Seoul to give a greeting. yunhap news

On the 6th, the KOSPI index exceeded 3000 intraday for the first time in history. Although the two former presidents made a pledge, this is a record that has not been achieved for 10 years. President Moon Jae-in emphasized “a policy for fostering capital markets and financial support for the middle class” when he was a presidential candidate, but he never presented a stock index target in specific numbers. At a meeting of the Blue House chief and advisors on the 14th of last month, he said, “Both the KOSPI and KOSDAQ indexes are recording all-time highs, and the stock price is showing a hopeful outlook for the opening of the 3000 era.”

In the stock market, there is a vague formula: “Progressive regime = booming stock market.” In 2017, when the current administration was inaugurated, Hwang Young-ki, the head of the Financial Investment Association, held a press conference and said, “In general, the progressive regime had better stock prices than the conservative regime.” For example, he said. The myth proves that the Kospi rose by 10% for two months from the decision to impeach former President Park from the inauguration of President Moon Jae-in, and escaped from the notorious Boxpi at once.

KOSPI history record. Graphic = Reporter Kim Kyung-jin [email protected]

Investment experts analyze that “the new government’s policy expectations, such as improvement of governance structure, had an impact rather than actual corporate performance” (Jeon Hwang). This means that if the progressive regime, which emphasizes fairness and distribution, repeatedly emphasizes keywords such as chaebol reform and market transparency, the idea that’I can also seize the opportunity to make money’ among individual investors is strengthened. A former securities firm research center chief “Investment is psychology. In general, if the progressive camp takes power, the traditional rich people feel instinctively that they will be on the defensive, but the desire for investment of’Donghak ants’ increases.”Said.

In the 2000s, the level up of the Korean stock market took place during the Roh Moo-hyun administration. The KOSPI index, which was below the 600 line at the beginning of his inauguration, rose to a level above 1700 when he retired. During the Kim Dae-jung administration, which was launched in the midst of the financial crisis, there was a craze for’Buy Korea’ led by Hyundai Securities Chairman Ik-chi Lee.

President Moon Jae-in is speaking at a State Council meeting held at the Blue House on the morning of the 5th. [청와대사진기자단]

On the other hand, during the Lee Myung-bak and Park Geun-hye administrations, real estate incentives prevented stock price stimulus. Sewoon Hwang is a research fellow at the Capital Market Research Institute “In the time of former President Park, the inflow of money into the real estate market was encouraged to the extent that former Deputy Prime Minister Choi Gyeong-hwan said,’Buy a house for debt.’“Naturally, market liquidity could not flow into the stock market, and now the opposite is the case.” During the time of former President Lee, there were favorable developments such as lifting the green belt in Seocho-gu, Seoul.

Therefore, many analyzes of the current government’s stock market boom are saying, “Because we cut all the money in real estate, we have no choice but to be concentrated in stocks” (Research Fellow Hwang). In the aftermath of Corona 19, it is pointed out that the central banks of all major countries are implementing zero interest rate policies as the nature of liquidity excess, but the government and ruling party know better than anyone that the reaction of the failure of real estate policy has appeared in the stock market. On this day, there were few voices in the party and the government to welcome the new history of the KOSPI 3000.

Democratic Party lawmaker Kim Byeong-wook wrote on Facebook that “Ho-young Joo and former Congressman Lee Hye-hoon misunderstood the sincere investment activities of Donghak ants with unusual stock prices to criticize President Moon Jae-in.” Democratic Party lawmaker Hong Seong-guk said in the call, “I was able to take a glimpse of the disappearance of the’Korea Discount’ (undervalued in the Korean stock market) with a touch of 3000 lines.” “It appears that a new investor named Donghak Ant has entered the stock market with 5 to 6 million people, and the party and government should focus their capabilities on institutional reorganization that leads them to proper investment decisions.”Said.

On the 6th, the KOSPI closing price index of 2968.21 is displayed on the electronic board in the dealing room of Hana Bank’s headquarters in Jung-gu, Seoul. Reporter Lim Hyun-dong

For now, the key question is how long the bull market, which has been fueled by the Donghak ant fever, can continue without support for corporate performance and institutional and foreign purchases. In the stock market, optimism has been raised, saying, “As individuals lead the stock market with low interest rates and abundant liquidity, the won-dollar exchange rate is a good condition for foreign inflow in the future” (Lim Seong-cheol, Heungkuk Securities Research Institute). There are signs of unhealthy, etc. everywhere.

Resolving the gap between the real economy and the stock market within the term is considered a factor that will determine the success or failure of politics as well as economy. Professor Seong Tae-yoon of Yonsei University said, “We must acknowledge the achievements of managing the stock market, which showed signs of a collapse immediately after the Corona 19 epidemic.” “It is dangerous for both investors and the national economy that the stock price continues to surge without support for the future recovery of the real economy.”Said. On the bulletin board where stock investors gathered on this day, a message stating, “Banpo apartment is the most promising item, but the government cannot buy it,” and “If even stocks fail, we will judge with votes.”

Reporter Shim Saerom [email protected]