World-Beating South Korea Stocks Still ‘Cheap’, First Eagle Says

South Korean equities remain attractive despite a record-breaking rally, with a corporate reform drive modeled on Japan’s playbook seen delivering faster gains for shareholders, according to First Eagle Investment Management.

The Kospi Index is now within reach of the 5,000 mark — a target set by President Lee Jae Myung on the campaign trail last year — after a blistering AI-driven rally lifted top chipmakers like Samsung Electronics Co. But it’s the policy reforms that bolster the investment case, said Christian Heck, a portfolio manager at First Eagle.