Lee Jae-myung Pushes Capital Market Reform as KOSPI Hits New Highs

South Korean opposition leader Lee Jae-myung is championing sweeping capital market reforms amid the KOSPI index reaching record highs on February 23, 2026. The benchmark surged past 2,900 points, up 2% on the day, fueled by strong exports in semiconductors and EVs from companies like Samsung and Hyundai.
Lee, a Democratic Party figure and potential presidential candidate, proposes measures including tax incentives for retail investors, stricter oversight on short-selling, and green finance initiatives to attract foreign capital. "We must democratize our markets to ensure growth benefits all Koreans, not just chaebols," he declared in a speech. His push comes as income inequality concerns rise alongside the bull market.
The KOSPI's rally reflects South Korea's economic resilience, with GDP growth at 3.5% annually, driven by tech exports despite global slowdowns. However, critics argue Lee's reforms could introduce volatility if they disrupt institutional flows. Supporters see them as necessary to evolve from the 1997 Asian financial crisis lessons.
As elections loom, Lee's agenda could influence policy, potentially boosting retail participation via apps like Kakao Pay. For now, the KOSPI's highs highlight Korea's market strength, but reforms like Lee's may determine its sustainability.

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