South Korea's stock market surged on President Lee Jae-myung's promises to authorize cryptocurrencies, with shares such as Kakao Pay and LG CNS seeing significant increases.
Raluca Ioana Draghici
Economy
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This month, South Korea's stock market was revitalized by increased interest in digital assets after new President Lee Jae-myung pledged to allow cryptocurrencies pegged to the national currency. Shares in companies involved in digital currency development, such as Kakao Pay and LG CNS, have risen dramatically, and the Kospi index has hit its highest level in four years. However, experts warn of systemic risks and overvalued valuations of some stocks, advising caution to investors.
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