President Lee Jae-myung's ministerial briefings, broadcast live as he visits each government department, are having immediate and significant effects on the stock market, analysts say. Concerns are growing that investor attention may become excessively focused on the remaining presidential briefings.
According to Korea Exchange data on May 18, shares of Lotte Tour Development (008770.KS) and Paradise Co. (034230.KS), which operate foreigner-only private casinos, fell sharply in the previous trading session. Lotte Tour Development dropped 6.84% while Paradise declined 6.98%. In contrast, state-run casino operators GKL (114090.KS) and Kangwon Land (035250.KS) rose 0.55% and 0.54%, respectively.
The divergence may stem from President Lee's remarks on May 16 regarding casino licensing for foreigners, when he expressed a negative view on granting permits to private entities or specific individuals, analysts said. During his briefing with the Ministry of Culture, Sports and Tourism and its affiliated agencies, President Lee stated, "It is not appropriate to grant permits to private parties or specific individuals."
When President Lee mentioned hair loss medication during his Ministry of Health and Welfare briefing on May 16, TS Trillion (317240.KQ), known for its hair loss care shampoo, surged 29.77% on May 17. Innogene (438690.KQ), a company specializing in anti-aging solutions, also rose throughout the day before hitting the daily price limit, closing up 29.90%.
"Hair loss used to be seen as a cosmetic issue, but nowadays it seems to be perceived as a matter of survival," President Lee said. "I would like you to review options such as limiting the number of treatments or total amount covered, if unlimited coverage poses too great a fiscal burden."
He added, "I heard that drug prices go down when medications are designated for health insurance coverage. Please review that aspect as well."
The presidential ministerial briefings have now reached their midpoint. Briefings with the Ministry of National Defense, Ministry of Patriots and Veterans Affairs, and their affiliated agencies are scheduled for May 18. The Ministry of Foreign Affairs, Ministry of Unification, Financial Services Commission, Fair Trade Commission, Ministry of Justice, Ministry of Gender Equality, and their affiliated agencies are set for May 19, with the Ministry of Oceans and Fisheries scheduled for May 23.
