Choi Jong-ku, chairman of South Korea’s Financial Services Commission (FSC), pitched for the secondary Korean stock market to draw foreign investment in the technology and bio-laden Kosdaq market.

The top financial policymaker briefed investors in Hong Kong on the slew of government’s latest measures - including accounting reforms, tougher crackdown on unfair transactions, mandatory disclosure of corporate governance structure and expansion of stewardship code - designed to reinvigorate the secondary stock market that has been lagging behind the country’s main bourse Kospi in scale and foreign interest. The conference was organized by Korea Exchange (KRX), the country’s sole securities exchange operator.

He explained the measures have enhanced shareholders’ rights and helped draw diverse promising newcomers on Kosdaq. He also stressed the government’s will to make the Korean markets fairer with the measures to reform the country’s overall accounting system.

It is rare for a financial chief to attend the investor relations (IR) conference organized by KRX, underscoring the Korean government’s strong will to vitalize the secondary stock market.

“The conference would have added confidence in the Kosdaq market,” said FSC, adding that it would continue to work hard to attract more overseas investors to the market by providing them with much information.

The conference also offered sideline sessions where 15 Korean companies including Celltrion Healthcare, Shillajen, ViroMed, Posco Chemtech, Com2us and Genexine that belong to the new KRX 300 index composed of 232 Kospi-listed firms and 68 Kosdaq-listed firms held individual meetings with foreign institutional investors and analysts.

By Kim Dong-eun and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]