A view of the Korea Exchange (KRX) headquarters in Yeouido, Seoul. (Yonhap)
SEOUL, Jan. 2 (Korea Bizwire) — 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.
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.
“Our capital market is on pace for normalization, with the benchmark KOSPI breaking the 4,000-mark point and other market indexes, such as PER (price-to-earnings ratio), showing signs of improvement,” Jeong said.
“The local capital market should overcome the ‘Korea Discount’ and advance into the premium market,” he added.
To that end, the KRX will introduce an artificial intelligence (AI)-based monitoring system, Jeong said. It will also strengthen a crackdown on unfair trading through the joint response team launched last year to root out stock price manipulation.
Jeong also said pledged to extend trading hours, gradually introduce a 24-hour trading system and launch new investment products, including exchange-traded funds and derivatives holding virtual assets.
(Yonhap)
