The writer is founder and chief investment officer of Oasis Management
South Korea is among the best-performing major equity markets in the world this year, closing in on the strongest annual gains in a quarter century with the benchmark Kospi index up nearly 70 per cent in the year to date.
President Lee Jae Myung and his ruling Democratic party came to power in June with an aim to foster conditions to enable the Kospi to reach the 5,000 level. At the time, the target seemed like a moonshot given the index was trading around 2700. And yet, here we are with the index already at 4000.
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