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Kim Byung-ki, acting leader and floor leader of the Democratic Party, poses for a commemorative photo with Oh Ki-hyung, chair of the special committee, and other members during the launch ceremony of the KOSPI 5000 Special Committee at the National Assembly in Seoul on June 23. / Photo by Lee Byung-hwa

The Democratic Party (DP) launched its “KOSPI 5000 Special Committee” on June 23, signaling an ambitious drive to push South Korea’s main stock index to 5,000 points and usher in what it calls the "Korea Premium" era.

At the launch event held at the National Assembly, acting DP leader and floor leader Kim Byung-ki declared, “We will put an end to the Korea Discount and open the era of the Korea Premium,” pledging visible outcomes that the public can feel in cooperation with the Lee Jae-myung administration.

Kim noted that “on Friday (June 20), the KOSPI surpassed 3,000 for the first time in about three and a half years, and foreign investment continues to grow,” attributing the rise to a reduction in policy uncertainty following the new administration’s launch and market trust in the DP’s push for commercial law reforms.

“The Lee administration and the Democratic Party’s economic policy stance is about establishing a fair market order,” Kim said. “It’s about building a foundation of trust that allows foreign investors to invest with confidence.”

Oh Ki-hyung, who chairs the special committee, called the index’s rally “a welcome rain in a drought,” emphasizing that it was not due to corporate earnings but to political stabilization and hopes for stock market reform.

On corporate law reform, Oh described it as “an irresistible demand of the times,” and reaffirmed that even the Financial Supervisory Service acknowledges it as part of global standards. “There’s been criticism that good stocks are repeatedly turning into bad ones in Korea,” he said, “and the essence of the reform is to shift from rubber-stamp boards to responsible boards.”

Regarding the committee’s plans, Oh stated, “We will consistently pursue a range of policy initiatives to vitalize the capital market,” adding that they plan to organize legislative items during the regular session. He also pledged to pursue reforms such as amendments to the Capital Market Act, a ‘one-strike-out’ rule for stock manipulation, and to maintain close cooperation with the government.