South Korean President Yoon orders sustained promotion of corporate value improvement and increased corporate participation through tax support at first economic review meeting

South Korean President Yoon Seok-yeol said on the 9th that measures to support the improvement of corporate value, which are attracting a lot of attention from domestic and international investors, need to be actively and continuously promoted.
President Yoon said at the first economic review meeting held in the presidential office on the same day that he would swiftly implement incentive measures, including tax support, to allow many companies to voluntarily participate.
He called for the immediate formulation of a concrete plan to improve the corporate governance structure to protect the interests of investors.
Economic and financial issues such as short selling were discussed and countermeasures were discussed. Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance Choi Sang-mok, Financial Services Chairman Kim Ju-hyun, and Lee Bok-hyun were also in attendance.
Also attending from the Presidential Office were Chief Secretary Jeong Jin-seok, Chief Policy Officer Song Tae-yoon, and Chief Economic Affairs Officer Park Chun-seop.
Bank of Korea Governor Lee Chang-yong also attended the meeting to review the macroeconomic and financial situation. President Yoon said he aims for an orderly and soft landing in resolving the real estate fund issue.
He stressed the importance of consistent policy implementation, saying that funds should be smoothly provided to sound PF projects with proven feasibility, while projects lacking feasibility should be restructured and streamlined.
President Yoon then, together with the attendees, reviewed market conditions and investor reactions after the short selling ban is implemented in November 2023.
President Yoon stated that fundamental reform of short selling regulations is necessary to ensure investor protection and fairness in the capital market, and called for the introduction of measures to improve short selling regulations that would allow institutional and foreign investors to sell short selling.
He called for the thorough construction of a computer system to prevent illegal short selling by investors. Finally, President Yoon noted that the gross domestic product grew 1.3 percent in the first quarter, and export and employment indicators were strong.
He pointed out that this shows a clear trend toward economic recovery, and stated that stable management of the macroeconomy, promotion of stability in people's livelihoods, and promotion of economic revitalization are necessary.
In response, President Yoon called for the convening of a meeting to review major economic issues, including semiconductors, with the participation of relevant departments and agencies.
He proposed holding intensive meetings to examine risk factors and discuss countermeasures.