Korea Exchange to launch new stock index to counter low equity valuations

SEOUL: South Korea's main securities exchange operator said on Tuesday it is launching a new stock index, called the Korea Value-up Index, aimed at luring inflows as part of a broader push to boost the local equity market's depressed valuations.

Korea Exchange said the index will be made up of 100 profitable local companies deemed to have strong shareholder return policies and a track record of complying with government initiatives to narrow a "Korea discount" on stock prices.