Choi Kyung Mi and Alex Jensen review the week that was, and look ahead on the market’s reaction to North Korea’s launch of the Hwasong-17 ICBM, capable of reaching continental America and President-Elect, Yoon Seok Yeol’s proposed move away from the Blue House to Yongsan military installation.
The launch did not actually provoke a significant reaction from the Korean stock market, as most analysts had already factored it in. Samsung securities global investment strategy team stated that unlike Russia’s invasion of Ukraine, the North provocations don’t trigger instability in prices of major raw materials, therefore it had limited impact in the short term.
The other major issue from Seoul last week, was Yoon Seok Yeol’s proposed move away from Cheong Wa Dae, the official residence of the Korean President as his office to a military complex in the Yongsan area. Alex and Kyungmi discuss his reasons behind the move, Yoon’s insistence that the required renovations be completed before his inauguration on May 10, and the impact of such a move on the Yongsan area.