The leader of South Korea's ruling Democratic Party, Chung Sye-kyun, stated on Friday that the country's stock market is entering an era where the so-called "Korea discount" is being eliminated and a "Korea premium" is being realized. Noting that the price-to-book ratio of South Korean stocks remains below the OECD average, Chung indicated during a party meeting that the Korea Composite Stock Price Index (KOSPI) will not stop at 6,500 points but will continue rising to 7,000 and 8,000 points.