Financial Services Commission Chairman Lee Eok-won set improving the structure of South Korea's capital markets as a goal for the new year, saying he hopes 2026 will become the first year to fully resolve the Korea discount and open a Korea premium market.

Lee made the remarks at the 2026 securities and derivatives market opening ceremony held on Thursday at the Korea Exchange's Seoul office building in Yeouido, Seoul. He said the government plans to continue pushing fundamental improvements to the capital markets, centered on four core principles: trust, shareholder protection, innovation and virtuous cycles.

To raise market trust, he said he will establish a transparent and fair market order at global-standard levels. He said a one-strike-out approach to unfair trading will take root so the market fully feels that stock manipulation will be caught and that the cost will be heavy once detected.

He added that authorities will strengthen the execution capacity of the joint response team on stock manipulation and implement the one-strike-out policy against unfair trading. He also said he will support steps to prevent spin-off listings and to make the cancellation of treasury shares mandatory to enhance shareholder value.

Lee said he will build a market where respecting shareholder value is common sense. He stressed that authorities will strengthen shareholder protection in spin-off listings and support the principle of cancelling treasury shares.

He said he will establish a system to check implementation of the stewardship code and expand its scope so a culture takes root in which ordinary shareholders fairly enjoy the results of corporate growth.

He went on to say that this year the National Growth Fund will step up support for advanced industries in earnest by drawing up a first mega project, and will produce results in which regions and the public grow together through measures such as forming a public participation fund. He pledged to build a dynamic capital market to foster future industries.

He also said he will work to support business development companies, or BDCs, and legislate token securities, or STOs. He said the government plans to support BDCs taking root in the market and, for STOs, to operate a public-private consultative body to put conditions in order until the law takes effect. He added that authorities will modernise procedures for foreign investment and review tax benefits for funds that invest in corporate growth.