Lee vows to ease wealth concentration in property market as KOSPI breaches 6,000-point mark

President Lee Jae Myung on Wednesday vowed to ease the heavy concentration of the nation's wealth in the property market, as the benchmark stock index crossed a new milestone of 6,000 points for the first time. Lee made the remarks during a meeting with senior advisers of the ruling Democratic Party of Korea at Cheong Wa Dae on the day the benchmark Korea Composite Stock Price Index (KOSPI) surpassed the 6,000-point mark for the first time. "President Lee assessed that the recent signs of funds previously tied up in real estate flowing into the productive capital market are both natural and encouraging," Lee Kyu-yeon, presidential secretary for public affairs, told reporters. The index surpassed another milestone just a month after it reached the level of 5,000 points, thanks to the strong performance of chipmakers Samsung Electronics and SK hynix amid an artificial intelligence boom. During the meeting, Lee told the advisers that the economy and livelihoods are the top priority of the government, reaffirming his commitment to curb soaring housing prices, according to the secretary.