China and Russia pledge deeper strategic coordination at ASEAN summit talks
China said it is ready to "continuously" boost strategic coordination with Moscow. Chinese Foreign Minister Wang Yi told Russian counterpart Sergey La...
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%.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
On July 4, Azerbaijani President Ilham Aliyev met with Turkish President Recep Tayyip Erdoğan in Khankendi, reaffirming the deep-rooted alliance between the two nations.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
The global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
China’s exports are expected to have grown 5% in June as manufacturers hurried goods abroad ahead of a 12 August deadline that could see the U.S. restore punitive tariffs, a Reuters survey of economists indicates.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment