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%.
South Korea’s customs agency has uncovered a surge in efforts to falsely label foreign goods—mostly from China—as South Korean exports in an attempt to bypass steep U.S. tariffs introduced by President Donald Trump, officials said Monday.
South Korea’s former President Yoon Suk Yeol, who was ousted from office, appeared at the Seoul Central District Court on Tuesday to attend the second hearing in his ongoing criminal trial, where he faces serious charges of insurrection.
South Korea aims to delay new U.S. tariffs, prioritizing economic stability amid trade tensions. Finance Minister Choi Sang-mok emphasized the importance of reducing uncertainty for export industries, while ongoing talks with the U.S. seek a mutually beneficial resolution.
South Korea and Vietnam agreed on Monday to deepen economic cooperation and accelerate joint efforts to mitigate the impact of looming U.S. tariffs, following a ministerial meeting in Hanoi.
Former South Korean President Yoon Suk Yeol returned to his private home on Friday from the official residence after his removal from office, with crowds of supporters turning out to greet his motorcade.
Google is facing a landmark antitrust trial beginning Monday, as U.S. officials seek to break up the tech giant's dominance in the search engine market.
Pope Francis, the first Latin American leader of the Roman Catholic Church, has died, the Vatican said on Monday. He was 88, and had recently suffered a serious bout of double pneumonia. Following are reactions to his death:
A fresh Star Wars adventure is on the way, as Shawn Levy and Ryan Gosling officially introduce Star Wars: Starfighter, set to hit cinemas in May 2027.
The 18th meeting of the Joint Commission on Economic Cooperation between Iran and Russia is scheduled to take place in Moscow from April 23 to 25. The event aims to strengthen bilateral collaboration across a wide range of sectors.
Salvadoran President Nayib Bukele has offered to exchange 252 Venezuelan deportees held in El Salvador for an equal number of political prisoners detained by Nicolás Maduro's government, prompting both international criticism and a scathing response from Venezuela.
The Russian ruble has emerged as the top-performing currency globally in 2025, registering an impressive 38% appreciation against the US dollar since the beginning of the year, according to a report by Bloomberg.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 16th, covering the latest developments you need to know.
Pope Francis, the first Latin American pope and a transformative figure in the Roman Catholic Church, has passed away at the age of 88, the Vatican confirmed in a video statement on Monday.
The Kremlin on Monday expressed satisfaction with recent statements from Washington indicating that Ukraine’s NATO membership is no longer under consideration — a position that aligns closely with Russia’s long-standing stance on the issue.
Google is facing a landmark antitrust trial beginning Monday, as U.S. officials seek to break up the tech giant's dominance in the search engine market.
Pope Francis, the first Latin American leader of the Roman Catholic Church, has died, the Vatican said on Monday. He was 88, and had recently suffered a serious bout of double pneumonia. Following are reactions to his death:
Salvadoran President Nayib Bukele has offered to exchange 252 Venezuelan deportees held in El Salvador for an equal number of political prisoners detained by Nicolás Maduro's government, prompting both international criticism and a scathing response from Venezuela.
McLaren’s Oscar Piastri stormed to victory at the Saudi Arabian Grand Prix on Sunday, overtaking Max Verstappen and rising to the top of the Formula 1 driver standings.
Google is facing a landmark antitrust trial beginning Monday, as U.S. officials seek to break up the tech giant's dominance in the search engine market.
Pope Francis, the first Latin American leader of the Roman Catholic Church, has died, the Vatican said on Monday. He was 88, and had recently suffered a serious bout of double pneumonia. Following are reactions to his death:
A fresh Star Wars adventure is on the way, as Shawn Levy and Ryan Gosling officially introduce Star Wars: Starfighter, set to hit cinemas in May 2027.
The 18th meeting of the Joint Commission on Economic Cooperation between Iran and Russia is scheduled to take place in Moscow from April 23 to 25. The event aims to strengthen bilateral collaboration across a wide range of sectors.
Salvadoran President Nayib Bukele has offered to exchange 252 Venezuelan deportees held in El Salvador for an equal number of political prisoners detained by Nicolás Maduro's government, prompting both international criticism and a scathing response from Venezuela.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment