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]

上天天基金APP搜索【777】注册即可 领98元券包 ， 优选基金10元起投！限量发放！先到先得！ 亚太股市，集体上涨！ 6月11日早间，亚太市场集体走高。其中，韩国综合指数涨幅超过1%，创2022年1月以来新高。韩国媒体报道 称，韩国总统李在明今日将到访韩国交易所。 隔夜美股三大指数集体收涨，纳指涨0.63%，标普500指数涨0.55%，道指涨0.25%，大型科技股多数上涨，英 特尔涨近8%，特斯拉涨超5%。 亚太股市走强 今日早间，亚太股市多数上涨，截至记者发稿时，日经225指数涨0.40%，韩国综合指数涨1.1%，澳大利亚标 普200指数涨0.46%。值得关注的是，韩国综合指数已连续第六天上涨，有望创下2022年6月来最长连涨纪录。 日前，知名投行高盛将韩国股市评级上调至"增持"，并把基准韩国综合指数目标点位从2900点上调至3100点。 高盛的报告指出，韩国新政府比许多投资者预期的更注重经济增长。 高盛列举了李在明政府支持性财政政策，以及对人工智能和国防等战略行业的大规模投资。共同民主党在韩国 国会占多数席位，也增加了资本市场改革的可能性，有望减少"韩国折价"风险。 4日正式宣誓就职后，李在明已下达" ...

Group 1 - The Korean stock market has reached a three-year high, surpassing 2900 points, marking a technical bull market with over 20% gains since April [3][5] - The rise is attributed to political stability and coherent policies under the Lee Jae-myung government, which has implemented reforms to enhance corporate governance and shareholder returns [5][7] - The government plans a 35 trillion KRW (approximately 27 billion USD) economic stimulus focused on strategic industries like AI and biotechnology, boosting market confidence [5][8] Group 2 - Structural reforms in the Korean capital market aim to address the "Korea Discount" by enforcing mandatory stock cancellations, tax incentives for high-dividend companies, and strengthening fiduciary duties of directors [7][8] - Goldman Sachs estimates that if these reforms are implemented, the KOSPI's target price-to-earnings ratio could improve from 9.3 times to 12 times [8] - Global capital is reallocating from "US stock bubbles" to "Asian valuation gaps," with a significant increase in emerging market capital inflows following the Fed's interest rate cuts [8] Group 3 - Future performance of the Korean stock market will depend on the effectiveness and speed of Lee Jae-myung's policies, particularly regarding fiscal expansion and corporate governance reforms [10][11] - The actual recovery strength of the semiconductor industry is crucial, as current gains are largely based on expectations; any shortfall in demand could negatively impact the index [11] - Geopolitical factors and trade tensions, particularly with the US, could offset policy benefits, making the resilience of Korean exports a key concern [12][14]

Core Viewpoint - Investors are betting on the new shareholder-friendly policies of South Korea's President Lee Jae-myung to drive the Korean stock market upward after years of underperformance [1][2] Group 1: Market Sentiment and Investment Actions - Global asset management firms like Aberdeen Investments, Pictet Wealth Management, and Franklin Templeton have recently increased their holdings in Korean stocks or upgraded their outlooks [1] - Aberdeen Investments has raised its allocation to Korean stocks to overweight in its $1.2 billion Asia ex-Japan fund [1] - Since President Lee's inauguration, the KOSPI index has risen over 4%, rebounding more than 20% from its April low, approaching a bull market [2] Group 2: Legislative Reforms and Corporate Governance - Legislative reforms are aimed at addressing the "Korean discount," a phenomenon where local stocks are priced below their book value and lower than overseas competitors [4] - The new administration is expected to enhance shareholder rights by revising commercial laws to expand board responsibilities to shareholders [4][5] - There has been a sevenfold increase in activist campaigns targeting companies from 2020 to 2024, indicating growing shareholder impatience [4] Group 3: Corporate Actions and Future Outlook - A total of 160 companies have announced value enhancement plans, although many lack details [6] - KOSPI component companies are projected to increase total dividend payments by 12% in 2024, reaching 44 trillion won ($32.4 billion) [6] - Stock buybacks are expected to more than double in 2024, reaching 18.7 trillion won [6] - Despite challenges, including potential U.S. tariff increases and economic contraction, there is optimism about a cultural shift in corporate governance in South Korea [6]

山重水复，李在明三度角逐韩国总统大选终于成功。绝食抗议、遇刺受伤、出演夫妻真人秀、狂奔翻墙进国会⋯⋯他走向青瓦台的道路铺满了惊与险。上任 伊始，李在明在就职讲话中表示，将首先恢复民生和经济，启动紧急经济专班，依靠国家财政实现经济良性循环，建设持续增长和发展的社会。但面对依然 分裂的韩国政坛和社会挑战，李在明这位新总统的"闯关"之路才刚刚开始。 得票数创纪录 李在明作为左翼阵营候选人，在3日韩国总统选举中获得49.42%的得票率，领先保守派政党国民力量党候选人金文洙8个百分点，得票数创韩国总统选举纪 录。另一方面，韩国此次选举的投票率高达79.38%，是自1997年以来韩国总统选举投票率最高的一次。1997年是韩国经历亚洲金融危机和重大政治变革的 一年，如此高的投票率表明选民对国家摆脱困境的深切期望。 黑龙江省社会科学院东北亚研究所研究员、中国东北振兴研究院专家笪志刚表示，此次选举在韩政治分裂加剧、改革呼声进一步加大的背景下提前两年举 行。历史第二高的提前投票率凸显出此次选举是对尹锡悦前政府的一次民意"审判"，同时它也是韩国重塑政经格局的一次机会。 "KOSPI 5000点时代" 本届选举是韩国自1987年以来 ...

Group 1 - The new left-leaning president of South Korea, Lee Jae-myung, is expected to initiate a fiscal expansion era accompanied by rising government debt, leading to increased challenges for South Korean bonds [1][3] - The yield on 10-year South Korean government bonds surged over 10 basis points to 2.90%, reflecting investor concerns about increased debt supply following Lee's election [1][3] - The Ministry of Finance plans to issue 207.1 trillion KRW (approximately 150.7 billion USD) in government bonds this year, with expectations of additional stimulus measures that could further increase debt issuance [3] Group 2 - Major banks, including Morgan Stanley, predict that the Lee administration will introduce a second round of stimulus worth at least 35 trillion KRW, while ING forecasts it could be between 40 trillion and 45 trillion KRW [3] - Analysts suggest that if the second supplementary budget is around 30 trillion KRW, it could lead to an additional 25 trillion KRW in government bond issuance for the year [3] - The South Korean stock market has entered a "technical bull market," driven by expectations of accelerated economic expansion under Lee's government [3][4] Group 3 - Lee Jae-myung has set a target for the KOSPI index at 5000 points, indicating a strong focus on enhancing the valuation of South Korean stocks and addressing the "Korea discount" phenomenon [4] - The KOSPI index closed around 2770 points, reflecting market optimism regarding potential policy-driven growth in the stock market [4]

韩国股市迎来大涨行情！ 今日，韩国股市高开高走，韩国KOSPI指数收盘上涨2.66%，从4月低点上涨20%，进入技术性牛市。金融、券 商、芯片等板块集体拉升。 市场分析认为，韩国股市的上涨，与韩国总统选举有关。韩国中央选举管理委员会4日上午召开全体会议，正 式确认共同民主党候选人李在明当选第21届韩国总统。当天上午，新当选的韩国总统李在明在韩国国会正式宣 誓就职。李在明表示，将启动紧急经济专班，依靠国家财政实现经济良性循环。李在明还表示，将推动韩国迈 向以可再生能源为中心的社会，并大规模投资人工智能和芯片。 所谓韩国折价（Korea Discount），是指国际资本市场对韩国上市公司估值长期低于全球同业的特殊现象，其 本质是投资者因担忧韩国企业治理缺陷、财阀结构复杂性和政策风险，要求更高的风险补偿而压低股价。 李在明曾表示，他对KOSPI指数的目标为5000点，该目标凸显出他对股市的重视，他还承诺提升本地股票的估 值，终结"韩国折价"现象。 摩根大通资产管理公司韩国股票投资组合经理John Cho在一份报告中表示："李在明的选举承诺对提升韩国股 市的价值发挥了非常重要的作用。他修改商法的计划将扩大董事会成员的 ...

据央视新闻报道，当地时间6月3日，韩国广播公司KBS、韩联社等多家媒体称，李在明已确定当选新一 届韩国总统。李在明表示，正式当选后将尽快努力终结眼前的政治混乱、提振韩国经济，尽快让韩国民 众的生活恢复正常。 李在明在备受瞩目的总统大选中获胜后，韩国股市周三强势反弹，主要股指KOSPI指数跳涨2.5%报2766 点，距离技术性牛市仅一步之遥。这位新当选总统曾在竞选期间立下豪言：要将KOSPI推升至5000点， 并发誓要终结困扰韩国股市多年的"韩国折价"顽疾。 政治真空终结，市场迎来定心丸 李在明的当选为韩国市场扫除了最大的不确定性阴霾。自前总统尹锡悦去年短暂实施戒严令并随后被弹 劾以来，韩国陷入长达数月的政治领导层真空状态，投资者一直在观望政局如何收场。 当政治不确定性消散，资本市场往往会迎来猛烈反弹。周三盘中，韩国KOSPI指数大涨2.5%报2766点， 自4月份低点以来的涨幅已超过20%，技术性牛市触手可及。 韩元兑美元一度上涨0.5%，连续第二个交易日走强，成为亚洲表现最佳货币之一。目前涨幅稍有回 落。 不过，韩国国债表现疲软，10年期国债收益率上升约10个基点，期货价格跌至2月以来最低水平，反映 出市场 ...

资金流向印证市场信心。周四交易中，券商板块成为领涨先锋，反映投资者正提前布局政策红利。KB 证券数据显示，本月外资净流入规模已达上月两倍，机构投资者对改革题材的关注度升至年内高点。 这场由政策预期驱动的行情，本质是市场对韩国经济转型投下的信任票。随着6月3日大选临近，财政扩 张与货币宽松的组合拳能否兑现，将成为决定韩国股市能否突破"韩国折价"魔咒的关键变量。 出口驱动型经济迎来双重利好：一方面，英伟达(NVDA.US)对人工智能产业乐观前景提振了半导体产 业链信心;另一方面，美国国际贸易法院裁定特朗普政府对多国商品加征关税部分违法，为韩国支柱产 业带来喘息之机。这两个积极信号叠加，显著改善了市场对韩国出口形势的预期。 政策预期成为最大推手。韩国央行行长李昌镛在周四降息后释放明确信号，称"未来存在进一步宽松空 间"，这与市场对大选后新政府将推行积极财政政策的预期形成共振。现任总统候选人李在明披露的个 人投资组合中，包含跟踪KOSPI和科斯达克指数的ETF产品，其提出的"消除韩国折价"计划——通过改 革将基准指数推高至5000点的承诺，更点燃了市场热情。 韩国综合股价指数(KOSPI)周四盘中飙升1.9%，自去年 ...