President Lee Jae Myung speaks during a press conference at Cheong Wa Dae’s Yeongbingwan in Seoul on Monday. (Yonhap) President Lee Jae Myung on Monday said the recent rise in the country’s stock market has helped ease concerns over the depletion of the national pension system, reducing immediate pressure for structural reform.Speaking at a press conference marking the first anniversary of his inauguration at Cheong Wa Dae in Seoul, Lee said the stock market rally was not only benefiting investors who hold large-cap or semiconductor shares, but also the broader public through the national pension fund.“There have been media reports that the depletion year of the National Pension Service fund has been pushed back by 24 years,” Lee said. “The calculation may differ each time, but it seems clear that it has been extended by decades.”The benchmark Kospi has risen sharply since Lee took office on June 3, 2025, climbing from below 2,700 to a peak of 8,933 before retreating to above 7,600 as of publication time. Raising the Kospi to 5,000 was one of his presidential campaign pledges.Lee said this had also eased concerns among younger generations worried about whether the pension fund would be depleted before they could benefit from it.Lee also acknowledged Korean stocks remained undervalued, describing the Kospi’s rise as part of a process in which the market is returning to a more normal valuation.“Our stock market had been excessively compressed, like a spring,” Lee said.Lee cited policy predictability and the restoration of market trust as key conditions for further normalizing the stock market.“We need to ease geopolitical instability on the Korean Peninsula and clearly present the country’s industrial and economic policies in a predictable manner,” Lee said.He also stressed the need to correct unfair practices in the market.“We must also address abnormal practices that harm shareholders, such as siphoning off gains even when corporate value increases, dual listings and physical spin-offs,” Lee said.