South Korean markets have had a dismal 2024, with the so called"Korea discount" in its stock markets widening compared to other global peers.
The"Korea discount" refers to South Korean securities trading at lower valuations relative to regional peers due to investors' concerns over issues such as corporate governance at large family-owned conglomerates that have an outsized influence over the country's economy.by 2.3 percentage points since Dec. 3 when President Yoon Seok Yeol imposed and then revoked martial law within hours.
"The distractions of ousting Yoon amid fragile government and fragmented politics is likely to dilute and delay policy efforts to boost equity valuations," Varathan said, adding that power balance in South Korea could shift in favor of large and influential conglomerates, which could entrench the"Korea discount" even more.
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