[Edaily Kwon Oh Seok Reporter Shin Ha-yeon ] Over the past year, the KOSPI has risen by about 50% on the domestic stock market despite the downtrend that has persisted since last August, while the KOSDAQ has fallen by nearly 10%. Although the government set the ambitious goal of “KOSDAQ 3,000,” the index has actually retreated, causing retail investors’ distrust of the KOSDAQ to grow even further and preventing the market from regaining momentum.

According to MP Doctor on the 21st, the KOSPI closed at 5,735.66 and the KOSDAQ at 792.76. One year ago, on October 21 of last year, the KOSPI stood at 3,823.84 and the KOSDAQ at 872.50.
President Lee Jae-myung kicked off efforts to boost the KOSDAQ market last September at the National Growth Fund Public Report Conference, stating, “Trust in the KOSDAQ market as a whole has fallen significantly, so we must devise fundamental measures.” Subsequently, Democratic Party Representative Min Byung-deok added momentum to the initiative on January 22 of this year by proposing the “KOSDAQ 3,000” vision during a private luncheon with President Lee Jae-myung at the Blue House.
However, despite repeated calls for “KOSDAQ 3,000” from President Lee and the ruling party, retail investors left the KOSDAQ market, incurring losses due to the falling index and net selling nearly 6 trillion won worth of shares over the past year.
Experts point to deep-rooted distrust and a lack of investment opportunities as the fundamental causes of the KOSDAQ market’s slump. They note that this is the result of the market’s inherent structural limitations and persistent weak investor sentiment.
Hwang Se-woon, a research fellow at the Korea Capital Market Institute, stated, “Many KOSDAQ-listed companies are relatively small and carry higher risks compared to KOSPI-listed firms.” He added, “It is difficult for the market to recover in the short term through one-off support policies or mere expressions of intent to revitalize it; substantial effects can only be achieved through sustained efforts to improve the market’s fundamentals over the long term.”