Korean Exchange CEO: It is expected that the Korean Composite Stock Index will reach 6000 points, promising to clean up "zombie companies".

Jeong Eun Bo, CEO of the South Korean Stock Exchange, stated that with South Korea continuing to advance measures to improve shareholder returns and attract global capital, the current wave of the South Korean stock market leading the global rally is expected to continue. Currently, the South Korean Composite Stock Price Index is only about 2% away from the once unreachable 5000-point mark - a core target in President Lee Jae-myung's election promise. Over the past 12 months, the index has accumulated a gain of over 94%, and in this context, Jeong Eun Bo expressed the above optimistic view. The significant increase in the South Korean stock market is largely due to the continuous rise in stocks of artificial intelligence and defense-related sectors. These two sectors are currently hot topics globally, and at the same time, the South Korean legislative body has also implemented key reform measures to improve corporate governance. In an interview with the media last Friday, Jeong Eun Bo mentioned the South Korean Composite Stock Price Index, stating, "The index is nearing the 5000-point mark, and I believe that after breaking through this barrier, even reaching 6000 points is not out of reach." He did not provide a specific timeframe. "The competitiveness of South Korea's core industries such as semiconductors, defense, and shipbuilding has been enhanced, which seems to be leading the stock market into a new round of value growth." If the South Korean Composite Stock Price Index reaches 6000 points, it means that the index will rise by another 22%. Although the index has continued its astounding rally into the new year - rising for the 12th consecutive trading day on Monday, hitting a new all-time high - some market observers, such as strategists at HSBC Holdings, advise investors to remain cautious. Insufficient market breadth, a significant decline in the local currency exchange rate, and concerns about a bubble in the artificial intelligence field are all potential risk factors. The South Korean Stock Exchange is also taking action to increase efforts to delist so-called "zombie companies". These companies have long been unable to generate enough revenue to cover interest costs. Jeong Eun Bo stated, "These types of companies must be delisted quickly to restore market confidence." He also added that compared to the size of the domestic economy and the capital market, there is an "excessive" number of listed companies in South Korea, with around 2800 currently listed.