South Korea’s Lee Jae-Myung Says Stock Market Is Undervalued After 8.8% KOSPI Drop Triggered Circuit Breaker

South Korean President Lee Jae-Myung said the country’s stock market remains undervalued, speaking at a press conference marking his first anniversary in office. According to ChainCatcher, his remarks followed a sharp early-session decline in the Korea Composite Stock Price Index, which fell as much as 8.8% on Monday and triggered a circuit breaker. Samsung Electronics at one point dropped 10%. The Korea Exchange later held an emergency market assessment meeting and said it would strengthen its emergency response and increase monitoring of illegal short selling and unfair trading. Lee also said South Korea will promote the integration and application of AI across industries, prepare large-scale investment projects related to the chip sector, accelerate housing supply in the real estate market, and raise taxes on owners of non-primary residences.