President Lee “We need to create a high-level organization dedicated to capital market reform” (comprehensive)

President Lee Jae-myung said on the 13th, "I think there is too much (reform work) that needs to be done specifically for the stock exchange and capital market," and added, "I wish we could create a high-level organization to take charge of this issue."

President Lee made this comment while attending the 'Trusted Capital Market, Asking and Finding Answers in the Field' meeting held at the Korea Exchange in Yeouido, Seoul on this day.

President Lee reflected, "I think I made a mistake last year. Of course, I should have created an organization dedicated to reform and pushed for it strongly, but it seemed like things were going too easily, so I let my guard down."

At the same time, he said, "After talking at the meeting, the level of IR (corporate information) etc. is very low. It is a surprising fact," he said, adding, "We need to gather things to legislate or institutionalize through fact-finding surveys and opinion collection."

Among these, regarding the IR issue, he pointed out, "There are companies that are displeased by telling them not to come (for due diligence), but don't they have the right to be in the market?" and added, "Shouldn't we actively let them know if the factory is running properly and what the management's resolve is? Even if they don't come, we have to go through the motions and invite them in."

When Jeong Eun-bo, Chairman of the Exchange Board, reported, "We are planning to change the system to require IR unconditionally at least once a year while listing (on KOSDAQ) is maintained," President Lee emphasized, saying, "Of course it should have been so."

President Lee also asked, “It is said that there are no English IR materials for foreign investors, so isn’t it okay to order it from ChatGPT?”

Regarding retirement pensions, he said, "If workers are excluded from the company's decision-making (in pension investment), it is a problem, so check this. After checking, (if so) try to find ways to supplement it."