Seoul: President Lee Jae Myung on Thursday vowed to improve undervalued Korean shares and sustain the ongoing rally by enhancing the market environment and encouraging a shift of capital from real estate to productive finance. Lee made the remarks as the benchmark Korea Composite Stock Price Index (KOSPI) surpassed the 6,000-point mark for the first time Wednesday and closed at a record high of 6,307.27 on Thursday, which he described as being on track toward the "normalization of the market."

According to Yonhap News Agency, Lee emphasized the transition from a "Korea discount" to a "Korea premium," highlighting the importance of Korean shares being more highly valued compared to other countries. He noted the government's efforts to address opaque and irrational market practices, citing the National Assembly's recent amendment to the Commercial Act. This amendment requires listed firms to cancel treasury shares, a move anticipated to enhance shareholder returns.

The latest amendment marks the third revision of its kind, mandating the cancellation of companies' own shares, which is expected to significantly benefit shareholders. Lee also committed to promoting the redirection of capital from the real estate sector to "productive finance," deeming this shift an "unavoidable trend."