Russia welcomes Iran’s proposal to host Caspian summit in 2026
Russia’s Foreign Minister Sergei Lavrov has expressed his country’s agreement with Tehran’s plans to host the summit meeting of the Caspian Sea ...
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%.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
British Prime Minister Keir Starmer and Ukrainian President Volodymyr Zelenskyy arrived for the Coalition of the Willing meeting on Friday 24th October.
Twenty-two years ago, the Concorde made its final descent into London, marking the end of an era when air travel reached twice the speed of sound and luxury met groundbreaking engineering.
U.S. defence startup Castelion has secured contracts to integrate its Blackbeard hypersonic weapon with Army and Navy systems, marking a step toward global deployment of next-generation strike missiles.
The body of a 56-year-old man has been found buried in mud a year after he was swept away in deadly flash floods in southeastern Spain, authorities said on Thursday.
Russian President Vladimir Putin has appointed Nikolai Udovichenko as his Special Representative for the delimitation and demarcation of state borders with CIS countries, including the breakaway “Republics of Abkhazia and South Ossetia.”
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment