South Korea's President Lee Calls Stock Market Undervalued After Seoul Index Drops 8.8%

According to ChainCatcher, South Korean President Lee Jae-myung said at a press conference marking his first anniversary in office that the country's stock market remains undervalued. The statement came after Seoul's benchmark index fell 8.8% at the market open and triggered a circuit breaker, with Samsung Electronics declining as much as 10%. The Korea Exchange subsequently held an emergency market assessment meeting and vowed to strengthen emergency response measures and intensify oversight of illegal short-selling and unfair trading practices.

Lee also announced plans to accelerate AI integration across all industries, prepare major investment projects in the semiconductor sector, and increase housing supply in the real estate market.