South Korea

The ruling Grand National Party (GNP) has renamed itself the Saenuri Party in a bid to improve its election fortunes ahead of legislative elections in April. Following the emergence of a number of scandals, the party's recent defeat in Seoul's mayoral elections and a widening wealth disparity in the country, public confidence in the Saenuri Party has been waning. While the party has introduced a number of reforms, we still believe that being pro-chaebol and pro-business are likely to remain the party's guiding principles and we are unlikely to see any changes in this respect over the longer

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