Kim Min-kook Proposes Stock Price Manipulation Prevention Bill; 586 KOSPI Firms Trade Below Book Value

According to Korean Economic TV, on July 21, Kim Min-kook, CEO of VIP Asset Management, called for legislation to prevent major shareholders from keeping stock prices artificially low at a parliamentary forum in Seoul. He highlighted that 586 KOSPI-listed companies, or 73% of all listed firms, currently trade below book value—an increase from a year earlier—as owners benefit from lower valuations during inheritance and gift tax assessments. The proposed law would set a 80% book value floor for tax purposes on controlling shareholder share transfers, eliminating incentives to suppress stock prices and aligning interests between major and minority shareholders.
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