President Lee Jae Myung speaks throughout a report from the Abroad Korean Company and the unification ministry on the authorities complicated in Seoul, Friday. Yonhap
President Lee Jae Myung on Friday instructed the monetary regulator to make extra efforts to enhance transparency in inventory transactions, saying {that a} lack of investor confidence in native inventory markets has affected the international alternate market.
Buyers have stored demanding a reduction on Korean shares because of lax laws on unfair inventory buying and selling and opaque administration ethics, Lee advised a coverage briefing by the Monetary Providers Fee.
“Mistrust within the native inventory market is affecting the international alternate market,” Lee stated.
The remarks got here at a time when monetary authorities have stepped up warnings in opposition to the native forex’s speedy slide.
When listed, native corporations are typically valued at solely about 60 % of their true price, regardless of their comparatively robust efficiency, Lee stated.
“The primary purpose for this absurd factor is mistrust of market transparency,” Lee stated.
