The Democratic Party of Korea is forming a non-standing special committee called the 'KOSPI5000 Special Committee.' Amid President Lee Jae-myung's recent visit to the Korea Exchange as his first external engagement since taking office, promising the revitalization of the stock market, the party intends to support legislation on this matter.
Democratic Party Spokesperson Kim Sung-hoe met with reporters on the 13th after the Supreme Council meeting and said, “We decided to form the KOSPI5000 Special Committee as a non-standing special committee,” noting that they will discuss institutional improvements to restore trust in the domestic stock market.
The Democratic Party's KOSPI5000 Special Committee plans to continue discussions related to the amendments to the Commercial Act that President Lee has been pursuing since the time as party chairperson. Representative Oh Ki-hyeong, who has been the head of the Democratic Party's 'Task Force to Revitalize the Korean Stock Market (Director General Revival TF),' has been appointed as the chairperson. Additionally, Representatives Kim Nam-geun, Min Byeong-deok, Park Sang-hyuk, Lee So-young, Lee Jeong-moon, Kim Young-hwan, Kim Hyun-jeong, Park Hong-bae, and Lee Kang-il are participating.
President Lee visited the Korea Exchange on the 11th to discuss measures to revitalize the stock market. President Lee stated, “Let's open the era of a stock index of 5000 wide. I will actively pursue various improvements to revitalize the capital market,” and added, “The new government plans to introduce a 'one-strike out system' for unfair trading such as stock manipulation and to impose penalty surcharges and recover undue profits to sternly punish those involved in unfair trading practices.”
The Democratic Party announced that it would propose to the People Power Party to jointly pursue common public pledges presented during the presidential election process. According to the Democratic Party, there are about 200 similar pledges proposed by both parties, of which around 80 are identified as legislative matters.
Spokesperson Kim said, “Currently, from the policy committee level, we are continuously proposing the pursuit of common pledges to the opposition party,” and added, “We hope the People Power Party will actively participate in discussions to resolve the common pledges together.”