South Korean investors bet new president can end market’s long-standing ‘discount’

South Korea’s main stock index has surged to a three-and-a-half-year high following President Lee Jae-myung’s election, fueled by promises of corporate governance reform aimed at improving low market valuations. His administration plans to introduce strong shareholder protections and amend laws to prioritize shareholders’ interests, despite potential pushback from powerful conglomerates concerned about the impact on growth.