Korea stock rally opens door to rerating: Nomura economist

Korea's stock market may be starting to shed its long-standing discount, but the Kospi's sharp rally has yet to translate into a market rerating, according to a senior Nomura economist. "We believe Korea is beginning to move beyond the traditional 'Korea discount,' but it is too early to call it a sustained premium," Park Jeong-woo, Nomura's senior economist for Korea and Taiwan, said in a recent interview with The Korea Herald. Despite the Kospi's strong gains, Park said valuations suggest inve