Corporate Reforms at Risk From Opposition Win in Korea Election

-- South Koreans head to the polls next week to elect a new parliament and the outcome may threaten the government’s Japan-like corporate reforms that have helped spur a stock market rally.

Yoon in January pledged to scrap the planned tax — which is set to be introduced next year — in a bid to boost investor sentiment and stock values. “For me and the market, the most important thing is the government’s resolve to push forward with the market reforms and FX liberalization,” said Wee Khoon Chong, senior Asia Pacific market strategist at BNY Mellon in Hong Kong.The uncertainty surrounding the election is expected to increase volatility, but it may also provide a buying opportunity, some investors say.

NEW YORK — Days after former President Donald Trump posted a $175 million bond to block New York state from imminently collecting on a huge civil fraud judgment, state lawyers Thursday called for more information on the bond’s bona fides. State Attorney General Letitia James' office filed papers giving Trump's lawyers or the bond underwriter 10 days to “justify” the bond — essentially, to show that the company can make good on it.

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Tax Incentives President Yoon Stock Market Korean Stocks Opposition Victory National Assembly

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