South Korean President Lee Myung-bak: South Korean Stock Market Remains Undervalued in My View

Deep News06-08

South Korean President Lee Jae-myung stated on Monday that, in his opinion, the South Korean stock market remains undervalued at present, and that all South Koreans benefit from the rise in the stock market.

Regarding AI development, Lee Jae-myung expressed that South Korea aims to become the first country to comprehensively integrate AI across all industries. He emphasized that the dividends from corporate growth must extend to small and micro enterprises as well as every region. A large-scale investment project will be announced soon, which will determine how to most effectively utilize the surplus tax revenue generated by the semiconductor industry. Additionally, efforts will be made to cultivate next-generation growth engines beyond semiconductors.

Simultaneously, Lee Jae-myung stated that South Korea must break away from its real estate-driven economic model. The country will accelerate housing supply and should increase the tax burden on owners of non-owner-occupied properties. He noted that South Korea's property holding taxes are relatively low. Furthermore, South Korea will crack down severely on stock price manipulation and crimes related to real estate.

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