Investors were already wary of South Korean stocks. Then the country descended into chaos

South Korean markets have struggled in 2024, with the “Korea discount” widening as the Kospi index has dropped over 7% this year. The country’s “Corporate Value-Up” program aimed at addressing this issue has not been successful, with concerns over corporate governance at family-owned conglomerates contributing to lower valuations. Political turmoil under President Yoon Suk Yeol has further impacted investor sentiment, leading to a setback for the program and leaving South Korea’s stock market lagging behind its regional peers like Japan.

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