Seoul: The head of South Korea's main bourse operator vowed Friday efforts to upgrade the country's capital market by extending trading hours and strengthening crackdowns on unfair trading practices.

According to Yonhap News Agency, Jeong Eun-bo, the chairman of the Korea Exchange (KRX), made the remarks at an event celebrating the first trading day of the new year, held at the KRX's office in Seoul. Jeong highlighted the ongoing progress in the capital market, noting that the benchmark KOSPI index has surpassed the 4,000-point mark and other market indicators, such as the price-to-earnings ratio (PER), are showing signs of improvement.

Jeong emphasized the need for the local capital market to overcome the so-called 'Korea Discount' and advance into a premium market. To achieve this, he announced plans to introduce an artificial intelligence (AI)-based monitoring system and strengthen the crackdown on unfair trading. This will be supported by the joint response team launched last year, aimed at rooting out stock price manipulation.

In addition to these measures, Jeong pledged to extend trading hours and gradually implement a 24-hour trading system. He also revealed plans to launch new investment products, including exchange-traded funds and derivatives that hold virtual assets, to further enhance the market's appeal and accessibility.