President Lee: Stock market undervalued, pension fund boosted by gains

President Lee Jae-myung believes South Korea's stock market remains undervalued, even after the KOSPI index surpassed 8,000 points. At a press conference marking his first year in office on April 8, Lee expressed his view that the market could reach 5,000 points if only stock manipulation were eliminated.

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I still believe (the stock market) is undervalued.

"The market rose further due to the semiconductor boom," Lee noted. He acknowledged that the rapid increase has led to currency fluctuations and an increased weighting of large semiconductor stocks. Lee suggested that while a balance adjustment is needed, stock prices will likely continue to fluctuate.

Lee emphasized the positive impact of the stock market's performance on the National Pension Fund. "The National Pension Fund has increased enormously due to the rise in stock prices, benefiting all citizens," he stated. He added that this growth has somewhat eased the concerns of younger generations regarding the depletion of pension funds.

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If only stock manipulation were cleaned up, I thought it could reach 5,000, but it rose further due to the semiconductor boom.

The president indicated that while the market's rapid ascent requires attention to balance and currency exchange rates, the overall trend reflects a positive economic outlook. He sees continued potential for growth beyond current levels.

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The National Pension Fund has increased enormously due to the rise in stock prices, benefiting all citizens, and the concerns of the younger generation about pension fund depletion have slightly decreased.