S.Korea fin min: local shares very undervalued due to low dividend payouts

SEOUL, July 28 Sun Jul 27, 2014 10:36pm EDT

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SEOUL, July 28 (Reuters) - South Korean shares are considerably undervalued compared to the strength of its economy and companies and lower dividend payouts than in other countries are mainly to blame, its finance minister said on Monday.

Minister Choi Kyung-hwan made the remark while explaining his ministry's intention to pressure large companies to pay more of their income as dividends to shareholders or as wages to employees.

(Reporting by Choonsik Yoo; Editing by Kim Coghill)

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