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South Korean stocks remain ‘undervalued’, says Goldman after huge rebound from March losses

Cnbc · · 485 words · By Joseph Wilkins
Energy Transition and Geopolitical Risk South Korean Equity Market Performance Corporate Governance Reform
open_in_new Read the original article: https://www.cnbc.com/2026/04/17/goldman-undervalued-opportunities-south-korea-ma…

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Loaded Language 70% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

10 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

info Single Source 6
help Insufficient Evidence 2
verified Verified By Reference 1
verified Verified 1
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“South Korea's Kospi index was the best-performing major equity market of 2025, notching a 75% return over the year”
SINGLE SOURCE
One web result mentions the Kospi nearly tripled from 2,600 levels and was one of the world's best-performing markets, but it does not explicitly confirm the '75% return' figure or that it was the absolute best-performing major market of 2025. Other sources discuss different indices (Nikkei) or general trends.
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web search NEUTRAL — the Nikkei- Japan’s main stock market index- has surged by 50.7% this year.
https://www.investopedia.com/markets-news-4427704
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web search NEUTRAL — The South Korean KOSPI Index briefly surpassed 8,000 points, but experienced a significant intraday decline, indicating profit-taking at a resistance level. The market's rally, driven primarily by Sam…
https://www.tradingkey.com/analysis/stocks/more/261898718-so…
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web search NEUTRAL — The Kospi had nearly tripled from around 2,600 levels a year ago, making it one of the world’s best-performing major equity markets.A list of top 20 momentum stocks that have delivered massive returns…
https://economictimes.indiatimes.com/markets/us-stocks/news/…
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“Since then, the index has rallied a further 40%”
SINGLE SOURCE
One source explicitly mentions the KRX Securities Index skyrocketed by more than 40% in June 2025, which aligns with the claim of a further rally, but this is the only source providing this specific percentage for that timeframe.
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web search NEUTRAL — The KRX Securities Index has skyrocketed by more than 40% in June, reflecting significantly improved earnings forecasts for the second quarter of 2025. Mirae Asset Securities, for example, has seen it…
https://www.asktraders.com/analysis/kospi-index-makes-multi-…
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web search NEUTRAL — The current KOSPI surge, which has seen the index repeatedly hit new all-time highs above 3,500 and even 3,600 points in September and October 2025, is overwhelmingly driven by the exceptional perform…
https://markets.financialcontent.com/stocks/article/tokenrin…
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web search NEUTRAL — Morgan Stanley has raised its June 2026 target for South Koreas KOSPI index to 3,250 points, up from 2,950, citing accelerating capital market reforms and increasing institutional investor ...
https://www.econotimes.com/Morgan-Stanley-Boosts-KOSPI-Forec…
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“April's performance erasing March's heavy losses felt during the depths of the Iran conflict”
SINGLE SOURCE
The provided evidence for this claim consists of general index descriptions and real-time quote pages from Google, Yahoo, and MarketWatch. None of these sources mention an Iran conflict in March or April performance erasing those losses.
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web search NEUTRAL — KOSPI was introduced in 1983 with the base value of 100 as of 4 January 1980. It is calculated based on market capitalization.
https://www.google.com/finance/beta/quote/KOSPI:KRX
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web search NEUTRAL — Find the latest information on KOSPI Composite Index (KOSPI.KS) including data, charts, related news and more from Yahoo Finance
https://finance.yahoo.com/quote/KOSPI.KS/?fr=sycsrp_catchall
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web search NEUTRAL — 1 day ago · 180721 | A complete KOSPI Composite Index index overview by MarketWatch. View stock market news, stock market data and trading information.
https://www.marketwatch.com/investing/index/180721?countryCo…
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“The research team [Goldman Sachs] wrote in a note published this week that South Korean reforms to corporate governance are improving "incrementally,"”
SINGLE SOURCE
The evidence provided for this claim consists of general Wikipedia and corporate homepages for Goldman Sachs. There is no mention of a specific research note published 'this week' regarding South Korean corporate governance reforms.
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web search NEUTRAL — Goldman Sachs offers services in investment banking (advisory for mergers and acquisitions and restructuring), securities underwriting, prime brokerage, asset management, and wealth management.
https://en.wikipedia.org/wiki/Goldman_Sachs
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web search NEUTRAL — The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and asset and wealth management firm that provides a wide range of financial services.
https://www.goldmansachs.com/
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web search NEUTRAL — Goldman Sachs & Co. LLC is registered with the Securities and Exchange Commission (“SEC”) as both a broker-dealer and an investment adviser and is a member of the Financial Industry Regulatory Authori…
https://www.goldman.com/service-redirector/v1/services/next
verified
“South Korea has traditionally lagged its emerging market peers as a result of its notorious 'chaebols': family-owned conglomerates that dominate entire industries”
VERIFIED BY REFERENCE
Wikipedia explicitly defines chaebols as large industrial South Korean conglomerates run by families. Bloomberg reports on the urgency to reform these powerful conglomerates to boost the flagging stock market, corroborating the link between chaebols and market performance.
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web search NEUTRAL — A chaebol is a type of large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or …
https://en.wikipedia.org/wiki/Chaebol
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web search NEUTRAL — Powerful Families Who Dominate South Korea Face an Investor Revolt. The country’s political turmoil is increasing the urgency to boost its flagging stock market and reform its powerful conglomerates.
https://www.bloomberg.com/news/features/2024-12-10/korea-s-r…
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web search NEUTRAL — the Nikkei- Japan’s main stock market index- has surged by 50.7% this year.
https://www.investopedia.com/markets-news-4427704
info
“A similar story of corporate governance reform unfolded in Japan at the beginning of the 2010s”
SINGLE SOURCE
The evidence provided consists of general geographical and historical overviews of Japan from Wikipedia, Britannica, and the Government of Japan. None of these sources mention corporate governance reforms from the early 2010s.
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web search NEUTRAL — Learn about the basic information about Japan: National Flag and Anthem, Location, Land Area, Population, GDP, and more.
https://www.japan.go.jp/japan/
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web search NEUTRAL — Japan is divided into 47 administrative prefectures and eight traditional regions, and around 75% of its terrain is mountainous and heavily forested, concentrating its agriculture and highly urbanized…
https://en.m.wikipedia.org/wiki/Japan
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web search NEUTRAL — 2 days ago · Japan is an island country in East Asia, located in the Pacific Ocean off the eastern coast of the Asian continent. It lies east of China, the Korean Peninsula, and Russia, and consists o…
https://www.britannica.com/place/Japan
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“Goldman... identifying 70% of the Kospi's constituents as trading below book value”
SINGLE SOURCE
One specific web result explicitly states that 'Nearly 70% of KOSPI-listed stocks trade below book value' and attributes this observation to Goldman Sachs.
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web search NEUTRAL — The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in the Battery Park City neighborhood of Manh…
https://en.wikipedia.org/wiki/Goldman_Sachs
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web search NEUTRAL — Nearly 70% of KOSPI-listed stocks trade below book value. KOSPI 12-month forward earnings per share was revised up 0.1%. The Securities sector saw the strongest upward earnings revisions, while Utilit…
https://au.investing.com/news/stock-market-news/goldman-sees…
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web search NEUTRAL — Download a free audiobook version of "The Richest Man in Babylon" and support TED-Ed's nonprofit mission: https://www.audible.com/ted-edCheck out our full bo...
https://www.youtube.com/watch?v=p7HKvqRI_Bo
verified
“In an interview with CNBC's Lisa Kim, South Korea's Minister of Climate, Energy and Environment Kim Sung-hwan said there is a "growing national consensus that we must undergo a fundamental energy transition."”
VERIFIED
Wikipedia confirms Kim Sung-hwan has served as the minister of environment since 2025. Another source explicitly mentions him as Minister of Climate, Energy and Environment discussing the 'West Coast Energy Expressway' and the need for energy transition.
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web search NEUTRAL — Kim Sung-hwan is a South Korean politician who has served as the minister of environment since 2025. A member of the Democratic Party of Korea, he is a three-term member of the National Assembly, curr…
https://en.wikipedia.org/wiki/Kim_Sung-hwan_(politician)
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web search NEUTRAL — The "West Coast Energy Expressway" project, which sends renewable energy from the west coast to the metropolitan area, such as the Honam area, should also speed up. The project was also included in Pr…
https://www.mk.co.kr/en/economy/11868697
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web search NEUTRAL — Minister of Climate, Energy and Environment Kim Sung-whan failed to properly answer a ‘separation disposal quiz’ posed by a ruling party lawmaker during a National Assembly audit held on the 29th.
https://www.chosun.com/english/national-en/2025/10/29/DHXPPZ…
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“Seoul has committed to achieving 100 gigawatts of renewable energy capacity by 2030”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to confirm the 100 gigawatts commitment by 2030.
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“Currently, South Korea's total renewable energy capacity stands at 37 gigawatts, according to the Renewable Energy Institute”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to confirm the current capacity of 37 gigawatts or the Renewable Energy Institute's report.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.