South Korea's Stock Market Is Having a Moment
It's a dramatic turnaround for a place that's undergone huge political and economic turmoil in recent months: a declaration of martial law (rescinded hours later), a presidential impeachment and removal from office, and Donald Trump's 10% tariffs—scheduled to jump to 25% on July 9—which threaten to wreak havoc on export juggernauts such as Hyundai, LG and Samsung. Despite those hurdles and the global malaise stemming from wars in the Middle East and Ukraine, investors are piling into Korean stocks because, they say, the country's business culture is poised for a sharp transformation. 'Such movements are unstoppable once they start,' says Kim Ki Baek, a portfolio manager at Korea Investment Management Co.
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