Lee Jae-myung, leader of South Korea’s main opposition Democratic Party, sharply criticized rampant stock manipulations and liquidity value captures during a volatile market period. Speaking after attending a National Assembly plenary session, he stated, “Even recently, the idea that deep involvement in stocks leads to foolish losses is outdated—cases of liquidity grabs and similar schemes are now exposed.”
Calls for Stronger Market Oversight
Lee emphasized the need for immediate action, noting, “Market players are exploiting exchange rate fluctuations for undue profits. Authorities must intensify supervision and implement appropriate measures without delay.” He highlighted that such practices undermine national prestige when leveraging state power.
“Even in morning, midday, and evening trading sessions, certain stocks surged nearly 200 billion won each, raising questions about what schemes persist in the current environment,” Lee pointed out, urging targeted sanctions.
Government Convenes Urgent Exchange Rate Meeting
The plenary session, attended by Prime Minister Han Duck-soo, featured a reports the Financial Services Commission chair on central bank and exchange rate matters. While most lawmakers skipped the prior Friday session, this gathering addressed escalating tensions.
U.S. and Israeli strikes on Iran have expanded conflict across the Middle East, with President-elect Donald Trump signaling potential ground troop involvement. Officials convened to discuss strategies countering rising oil prices and inflation pressures.
President Yoon Demands Zero Tolerance
President Yoon Suk-yeol echoed calls for vigilance, stating there must be “zero tolerance for stock market disruptions.” He directed the finance minister overseeing exchange rates to respond decisively to financial shifts.
“Authorities should activate the 100 trillion-won market stabilization program to preempt instability,” Yoon instructed. He stressed thorough probes into fake news spreaders and crimes akin to market interference, adding, “Any forces sowing chaos in the national economy will face strict punishment under a no-mercy principle.”
Emergency measures also target supply stabilization and import expansion for crude oil, natural gas, and naphtha amid global supply risks.
