South Korea's plan to boost stock market disappoints investors

TOKYO -- The South Korean financial regulator's new plan to shore up the stock market has disappointed investors who expected more concrete changes. 

The first part of the much-awaited initiative, announced on Feb. 26, fell short of tackling the fundamental cause of the "Korea discount" phenomenon of relatively low valuations: a high inheritance tax that incentivizes large family-run conglomerates to keep stock prices low.