'Preferred Stocks' offer attractive yields for short- to medium-term investors — and bigger payoffs in the long term
One of the features of capitalism in South Korea is that a handful of large conglomerates – chaebol – account for a disproportionate share of GDP and financial markets. The families that run Samsung, Hyundai, and other chaebol use of all manner of devices, such as cross-shareholdings between subsidiaries, that allow them to retain control despite only owning, for instance, five or ten percent of outstanding shares.
As a result, the South Korean stock market has more than a hundred examples of listed non-voting shares, known as “Preferred Stock” (우선주).
One of the features of capitalism in South Korea is that a handful of large conglomerates – chaebol – account for a disproportionate share of GDP and financial markets. The families that run Samsung, Hyundai, and other chaebol use of all manner of devices, such as cross-shareholdings between subsidiaries, that allow them to retain control despite only owning, for instance, five or ten percent of outstanding shares.
As a result, the South Korean stock market has more than a hundred examples of listed non-voting shares, known as “Preferred Stock” (우선주).
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