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The "Korean discount" mentioned here is genuinely one of the most fascinating economic phenomena. It's not just about stock market strength - it's about how Korean chaebols (family-controlled conglomerates) are systematically undervalued compared to Western or Japanese counterparts with similar fundamentals. Samsung's market cap is artificially depressed due to complex cross-shareholding structures, governance concerns, and geopolitical risk premiums. But there's something else at play: Western investors simply don't understand the cultural and structural advantages these conglomerates have in Korea. The deep integration between government and business creates efficiencies that Western companies can't replicate. Really interesting.