JPMorgan Sees Korean Stock Gauge at 5,000 in Two Years (Correct)

South Korea’s equity benchmark may rise more than 50% from its current level over a two-year period should corporate governance reforms gain momentum, according to JPMorgan Chase & Co.

Korea remains a key overweight market in Asia and among emerging markets, strategists led by Mixo Das wrote in a note on Friday. The Kospi Index, which has gained 32% so far this year to near a record high, could reach around 5,000, they said. That compares with Friday’s close of around 3,176.

“We continue to recommend adding on any volatility as long as the reform process remains on track,” ...