South Korean President Lee Jaemyung: Korean equities still "undervalued"

ME News reported that on June 8 (UTC+8), South Korean President Lee Jaemyung said at a press conference marking his first year in office that Korea's stock market remains undervalued. Earlier on Monday, the Seoul Composite Index opened down as much as 8.8%, triggering a circuit breaker, while Samsung Electronics slid up to 10%. Following the sharp move, the Korea Exchange convened an emergency market assessment meeting and said it will reinforce contingency measures and step up monitoring of illegal short selling and other unfair trading practices. Lee also said the government will push AI adoption across all industries, prepare large-scale investment projects tied to the semiconductor sector, speed up housing supply, and raise tax burdens on non-owner-occupied real estate. (Source: ChainCatcher)