Korea is currently one of the cheapest stock markets in the world on a PE/Growth basis and is often overshadowed by its neighbors China and Japan.
Almost 25 years ago, as the Korea Fund was getting started, I was invited by First Boston to an institutional investor factory tour of South Korea. I shall never forget during the tour of Hyundai Shipyards when the manager explained that his generation simply assumed that it must make heavy sacrifices for the sake of the nation and its children.
I have been fascinated with Korea ever since. |
