Seoul: All top 10 business groups in South Korea, including Samsung, SK, and Hyundai Motor, have submitted plans to boost their corporate value as of last month, the main bourse operator said Wednesday. In addition, 49 out of the 115 listed firms affiliated with the top conglomerates have also submitted their own plans, the Korea Exchange (KRX) said in a release, adding the combined market capitalization of the 49 firms accounted for 51.2 percent of total market capitalization for all companies under the wing of the top 10 business groups.

According to Yonhap News Agency, the voluntary plans have been submitted under the government-led corporate value-up program, launched in May 2024, that seeks to overcome, if not end, the so-called "Korea discount," or undervaluation of local stocks. So far, a total of 162 listed companies have submitted their plans to boost their corporate value, according to the KRX.

Share prices of Korea Composite Stock Price Index (KOSPI)-listed companies that have submitted such plans spiked 34.1 percent on average in the January-August period, compared with the average 32.8 percent increase for all KOSPI-listed firms, it added. Meanwhile, the net assets in 12 exchange-traded funds (ETF) that track the value-up index had stood at 829.4 billion won (US$595.5 million) as of end-August, up 67 percent from the initially set amount of 496.1 billion won in November.