Jung Eun-bo, chairman of Korea Exchange, said "the steps of financial investment professionals will lay the foundation for a premium capital market," adding that "the exchange will continue to run toward the future of the capital market."
Korea Exchange announced on the 22nd that the "17th Financial Investment Professionals Marathon (Bulls Race)" was held the previous day to commemorate the 70th anniversary of the securities market opening, under the theme "Fearless Challenge! A New Future!" Approximately 7,000 people participated in the event, including Chairman Jung, executives and employees from the financial investment industry, and their families. Donations totaling 200 million won, combining participation fees and sponsorship funds, will be delivered to social welfare facilities in Yeongdeungpo-gu and Busan through the ChildFund Korea.
At the event, Chairman Jung met with reporters and confirmed there would be no further delay from September 14, the scheduled implementation date for extended stock market trading hours. He drew a clear line against securities industry opposition, which cited IT system and labor burdens as reasons why September implementation would be difficult. Chairman Jung emphasized, "Not only large firms but most mid-sized securities companies have decided to participate, meaning over 90% by market share will join the extended trading hours," adding "there are no obstacles to implementation."
Regarding the recent stock market rally, he mentioned the need for pace control. Chairman Jung said, "The KOSPI index could exceed 6,000 and even reach 7,000, but speed is important," adding "we need to consolidate the index as we go—if we overpace, we could burn out."