Lee Jae-myung, South Korea's leading presidential candidate, has vowed to eliminate the "Korea Discount" by reforming shareholder laws and boosting market value, aiming to double the stock index and win support from retail investors.
South Korea's top presidential candidate, Lee Jae-myung, has pledged to revive legislation aimed at limiting the power of controlling shareholders to improve the country’s stock market and eliminate the so-called "Korea Discount". This term refers to the tendency of South Korean companies to trade at lower valuations than global counterparts, partly due to the dominance of large, family-run conglomerates.
Lee, a liberal candidate and leader of the Democratic Party, announced plans to double the value of the main stock index and appeal to the nation’s 14 million retail investors, often referred to as "ants". He declared that I will end the "Korea Discount" era and usher in a new era of the "Korea Premium".
In March, the Democratic Party-led parliament passed an amendment to the Commercial Act to strengthen protections for minority shareholders. However, the acting president, Han Duck-soo, vetoed the bill, citing concerns over its potential to hinder corporate decision-making. Business lobby groups also opposed the measure.
Last year, the government introduced a voluntary plan encouraging companies to enhance shareholder value, but critics called it ineffective. Many experts believe that revising the Commercial Act would be a stronger step toward improving corporate governance.
Lee also committed to creating a roadmap for achieving developed market status from Morgan Stanley Capital International (MSCI). He pointed to the recent lifting of a five-year ban on short-selling, previously criticized by MSCI, as progress.
A stock trader himself, Lee said he would take firm action against stock manipulation and other market abuses. Following his remarks, the KOSPI index briefly rose by 0.6%, though it later leveled out.
Lee secured a significant win in the Democratic Party’s second primary round and is expected to become the party’s official presidential nominee on April 27. A recent Realmeter poll shows him leading the race with over 50% support, far ahead of conservative rival Kim Moon-soo, who has 12%.
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On Tuesday, U.S. President Donald Trump declared his intention to lift all sanctions currently imposed on Syria, asserting that the restrictions had achieved their intended goals.
Canadian Prime Minister Mark Carney announced a streamlined cabinet focused on economic reform and redefining ties with the U.S., following his election win last month.
US President Donald Trump will briefly meet Syria’s new President Ahmad al-Sharaa during his visit to Saudi Arabia, in a move signalling potential policy shifts towards Damascus.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
On Tuesday, U.S. President Donald Trump declared his intention to lift all sanctions currently imposed on Syria, asserting that the restrictions had achieved their intended goals.
Canadian Prime Minister Mark Carney announced a streamlined cabinet focused on economic reform and redefining ties with the U.S., following his election win last month.
US President Donald Trump will briefly meet Syria’s new President Ahmad al-Sharaa during his visit to Saudi Arabia, in a move signalling potential policy shifts towards Damascus.
Recent U.S. sanctions on Iran are not constructive when it comes to negotiations, Iran's foreign ministry spokesperson Esmaeil Baghaei said on Tuesday, after the two countries held a fourth round of nuclear talks on Sunday in Oman.
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