Catalyst Preview: What‘s Ahead on Reform Policy?

研报英文原文证据摘录

Catalyst Preview: What‘s Ahead on Reform Policy?

IdeaAlphaSignalsMCatalyst Event Preview

Company / Catalyst Date Importance Surprise

South Korea

Real Estate Policy Debate and Late-July

Jul 2026 High N/A

Tax Reform Proposal

Takeaways:

• The presidential real estate policy grand debate should provide hints on upcoming proposals regarding

supply, finance and taxation.

• We expect tighter tax and lending rules for non-resident single-home owners, while the supply

measures remain to be seen.

• Overall transaction volumes remain below prior-cycle peaks, but prices have risen in pockets amid

demand shifts across price bands under loan caps.

• With system retail loan growth capped at 1.5%, the incremental direct lending impact may be limited.

• That said, the broader equity relevance is around potential effects on retail liqudity, household asset

allocation and equity participation.

Deferred Commercial Act Provisions

3Q26 Neutral N/A

Taking Effect

• The independent director regime and revised aggregate 3% voting cap for audit-committee elections

take effect on July 23.

• From September 10, large listed companies face mandatory cumulative voting and two separately

elected audit-committee seats.

• These are implementation milestones rather than new policy, but they make governance reform more

operational.

• We expect more shareholder outreach, board-refresh discussion and proxy activity into the 2027 AGM

season.

• Stock impact should be company-specific, favoring firms that pair compliance with credible capital-

return actions.

Low-PBR Company Disclosure and "Anti-

Nov 2026 High N/A

Stock Suppression" Reform

• The government plans to publish a list of low-PBR companies from November, with final screening

criteria still to be set.