• South Korea’s much-hyped plan to push companies to improve management and corporate governance disappointed investors with a lack of enforcement and concrete details, sending local stocks lower.
  • In the “Corporate Value-up Program,” companies with management practices that prioritize shareholder returns will be given “bold incentives” and tax benefits, the Financial Services Commission said in a statement Monday. The guidelines for the program will be finalized in June, the financial regulator said.
  • The nation will also introduce the “Korea Value-up Index” in the third quarter — similar to Japan’s JPX Prime 150 Index and composed of best-practicing companies — that will be used by pension funds and other institutional investors as a benchmark. New exchange-traded funds, envisioned to be launched in the fourth quarter, will also be able to track the index, the FSC said.