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VT - EWY: South Korean Equities Are Undervalued On A Relative Basis
Vanguard Total World Stock Index
EWY provides exposure to a basket of South Korean equities.
In terms of valuation, South Korea is cheaper than most developed equity markets at the moment, despite a solid economy and above-average growth prospects.
I personally think EWY will do well over the long term, although some volatility should be expected in the short term.