Korea Capital Market Institute

Korea’s Achievement of KOSPI 4,000 and Its Implications [Senior Research Fellow] Kang, Sohyun / Jan. 06, 2026 In the second half of 2025, the Korean stock market surged at an exceptionally rapid pace, with the KOSPI breaking through the 4,000 mark. This development is being viewed as both a symbolic and substantive milestone, suggesting that the domestic market—long burdened by the so-called “Korea discount”—has entered a phase of structural transformation. However, it is also evident ... Assessing the Drivers of Recent Won Depreciation and Its Macroeconomic Implications [Senior Research Fellow] Kang, Hyunju / Jan. 06, 2026 The recent rise in the KRW/USD exchange rate is assessed to reflect a combination of structural factors—such as increased overseas securities investment driven by ageing and slower growth—and cyclical factors, including co-movement with the Japanese yen and the AI investment boom. Nevertheless, external soundness appears broadly solid, given the expansion of net foreign assets,... Corporate Governance Report Disclosure in Korea and Policy Implications [Research Fellow] Lim, Nayeon / Dec. 23, 2025 Korea introduced corporate governance report disclosure in 2017 in the form of voluntary disclosure. Since then, beginning in 2019, mandatory disclosure has been phased in for KOSPI-listed companies according to their asset size, and starting in 2026, the requirement will expand to all companies listed on the KOSPI market. Currently, companies disclose whether they comply with ... Deposit Tokens as Payment Infrastructure: Necessity and Functional Applications [Research Fellow] Jang, Bosung / Dec. 23, 2025 Recently, major central banks have been focusing on frameworks based on wholesale central bank digital currency (wCBDC) and deposit tokens in developing their digital currency infrastructures. A key feature of deposit tokens is their one-to-one exchangeability with base money, which ensures the singleness of money and provides a unified standard for valuation. Given that a comm... Introduction of Overseas Long-Term Asset Funds and Their Implications [Research Fellow] Kim, Jinyoung / Dec. 09, 2025 Long-term asset funds are designed to invest in private and illiquid assets while providing a certain level of redemption functionality. Major countries such as the United Kingdom, France, Italy, and Canada have introduced or are institutionalizing long-term asset funds to facilitate the flow of private capital into productive assets. Through these funds, they are opening acces...