The Wall Street Journal and Financial Times both claim that Korean stocks are undervalued. The FT's Lex Column on Friday told readers to "pay attention" to "undervalued" Korean shares, issuing a rosy forecast for the stock market here.
The FT said Korea's economy this year is expected to grow at the highest rate since 2011 and be the least impacted by the phase-out of U.S. quantitative easing, while benefiting the most from a U.S. recovery because it is dependent on exports. It also pointed to a current account surplus that other emerging countries can only dream about.
In late August, the WSJ cited a report by JP Morgan that said the Korean won is withstanding pressures while the currencies of emerging countries are declining.