Corporate Reforms at Risk From Opposition Win in Korea Election

South Koreans head to the polls next week to elect a new parliament and the outcome may threaten the government’s Japan-like corporate reforms that have helped spur a stock market rally.

The results of the April 10 vote to select the 300 members of the National Assembly could undermine President Yoon Suk Yeol’s flagship policy of boosting stock valuationsvia the “Corporate Value-Up” program, along with a number of his other reform measures.

Stocks and the won have already started to retreat in recent weeks amid concern the left-wing opposition will score a major victory over Yoon’s ruling party. An ...