Because the Korea discount applies to firms good and bad alike.

FORBES: The Korea discount

Samsung Electronics' stock has not enriched executives much: It has fallen by 45% in dollar terms (35% in won) in the past 12 months, declining in step with the Korean Composite Index (see The Korea discount).

FORBES: Look out, Sony

In July it bought four discount superstores and six undeveloped sites from a local businessman in South Korea, which at the moment is about as unpromising a market for foreign retailers as it is possible to imagine.

ECONOMIST: Asian retailing

Although steelmakers in Japan and South Korea had made a deal to pay 33% less than last year, China has demanded a deeper discount.

ECONOMIST: Behind China��s accusations of spying against Rio Tinto