KRX strives to elevate KOSPI as one of world’s best capital markets on 70th anniv.

Korea Exchange (KRX) Chairman Jeong Eun-bo speaks during the 70th anniversary of the country’s securities market at Hotel Lotte in Seoul, Tuesday. Yonhap

Korea must leverage the ongoing KOSPI rally to cement itself as a top-tier global capital market, competing head on with its advanced peers, the head of the bourse operator said Tuesday.

Korea Exchange (KRX) Chairman Jeong Eun-bo said central to the drive will be continued market reforms to improve access for foreign investors. Included are English-language disclosures, extended trading hours and shorter settlement cycles in line with global norms, ultimately seeking inclusion in the MSCI Developed Markets Index.

Short for Morgan Stanley Capital International, the index is a premier benchmark tracking large and mid-cap equities across 23 developed markets, covering roughly 85 percent of the free float-adjusted market capitalization. Korea is being considered for an upgrade to developed market status, which could take effect in 2027.

“Our goal now is to become one of the world’s best capital markets,” Jeong said during a celebration of the 70th anniversary of the country’s securities market at Hotel Lotte in Seoul.

“KOSPI has surged past 6,000 points and climbed to ninth place globally by market capitalization. After the past 70 years, the Korean stock market stands at a turning point as it prepares for the next seven decades," he said.

The rapid KOSPI growth was underpinned by capital market reform measures under President Lee Jae Myung, including Commercial Code revisions and tax reforms to enhance shareholder values, according to Jeong. "The government efforts alongside improved competitiveness in key industries, notably semiconductors, shipbuilding and defense, are strengthening both domestic and foreign investor confidence further."

The KOSPI surpassed 5,000 points, Jan. 27, and surged further to over 6,000 in less than a month. Total market capitalization reached 5,000 trillion won ($3.76 trillion) as of last Thursday, surpassing Germany and France.

Jeong said the rally is an indication of the Korean market overcoming the long-standing “Korea discount” toward a “Korea premium” era, propped up by the KRX’s drive to strengthen the capital market’s global competitiveness, boost investor confidence and accelerate digital transformation.

“We will continue to advance corporate value-up programs to support innovative and venture firms, building a virtuous cycle where capital markets fuel economic growth," the chairman said.