Korea Exchange Chairman Jeong Eun-bo (정은보) on Feb. 3 stressed that South Korea's capital market must now move beyond quantitative growth and head toward a 'premium market' based on trust and innovation.

In opening remarks at the 'KOSPI 5000 and Beyond' event held at the Korea Exchange in Yeouido, Seoul, Jeong said it was an achievement to surpass the 5,000-point level only three months after breaking above 4,000 for the first time in history in October last year.

He assessed the performance as the result of government-wide efforts to protect shareholder value and enhance market transparency through corporate value-up efforts, combined with companies' innovative growth.

He also explained that the KOSPI drew global stock market attention after posting an overwhelming 75.6 percent gain last year, and that market capitalisation also entered the era of 4 quadrillion won.

Marking the KOSPI 5,000 era, Jeong presented 'building a fair and trusted market' as the top priority. He said he would strengthen market trust by advancing market surveillance systems based on AI technology and tightening delisting requirements for troubled companies.

He also unveiled plans to advance infrastructure to improve the quality of the capital market.

Jeong said he would upgrade market infrastructure to global standards by extending trading hours and shortening clearing and settlement cycles. He added that he would also take the lead in competition to secure global liquidity by expanding English-language disclosures and improving dividend procedures.

He also stressed the role of productive finance and said he would actively promote listings by advanced innovative companies to revitalise venture capital, and further strengthen the competitiveness of the capital market through a market structure overhaul and a corporate value-up programme.

Jeong said today's KOSPI 5,000 is not simply a number but the fruit of the capabilities and challenges accumulated by South Korea's capital market. He stressed that he would continue to concentrate all capabilities so it can rise into a global first-class market in name and reality, based on trust and innovation.