韩股创三年半新高！新总统李在明誓言终结“韩股折价”，投资者信了

Group 1 - The core viewpoint of the news is that investors are optimistic about the South Korean stock market's potential for growth under the new president, Lee Jae-myung, who has promised to reach a Kospi index of 5000 during his term [1][4] - The Kospi index has risen to its highest level in three and a half years, increasing over 7% since Lee's election and more than 12% in the past month, indicating a technical bull market [1][4] - The rise in the Kospi index is driven by strong expectations for corporate governance reforms and the elimination of the "Korean discount" phenomenon, which has historically undervalued South Korean companies [4][6] Group 2 - Lee Jae-myung's visit to the Seoul Stock Exchange symbolizes his commitment to doubling the stock market's growth, emphasizing the need for strict measures against market violations and tax reforms to stimulate corporate dividends [5][6] - The "Korean discount" refers to the significant undervaluation of South Korean listed companies, with the Kospi's price-to-book ratio hitting a historical low of 0.84 last year [6] - Previous attempts by past presidents to address the "Korean discount" have been largely ineffective, with only 14% of companies participating in a voluntary value enhancement plan proposed by Lee's predecessor [6][7] Group 3 - Lee's administration is proposing stringent shareholder protection measures, including amendments to the Commercial Act to clarify directors' fiduciary duties to shareholders, which could help improve corporate governance [7][8] - Key measures include increasing electronic voting, expanding independent audit committee seats, and enhancing minority shareholders' influence in board appointments [7][8] - However, there is significant opposition from large conglomerates (chaebols), which fear that these reforms may hinder corporate growth and weaken the industrial base [8] Group 4 - Economic challenges persist, with Lee acknowledging that the South Korean economy is in "crisis" and major corporate profits are declining [8] - There are concerns about retail investors being overly optimistic, which could lead to a market correction, as the Kospi would need to rise approximately 70% to reach the 5000-point target [8]