NPS Chief Kim Sung-joo Says KOSPI Drop Looks Like Short-Term Correction

South Korea’s stock market closed lower on the 15th, but Kim Sung-joo, chairman of the National Pension Service, placed weight on the possibility that the KOSPI’s decline was a short-term correction. In a meeting with Maeil Business Newspaper, Kim commented on the KOSPI after it turned lower and reportedly viewed the recent stock-price movement from a chart perspective. The original report focused on the domestic market’s lower close and Kim’s assessment that the KOSPI decline could be a short-term adjustment. As the National Pension Service is regarded as a major institutional investor in Korea’s capital market, his view may be referenced when interpreting market moves. The reported information, however, is limited to his remarks on a possible short-term correction. Source: mk.co.kr