On June 23, MSCI released its 2026 market classification review and declined to
upgrade South Korea to developed market status. MSCI said Korean regulators have
announced a series of reforms but key market-access issues remain unresolved, so
the market will stay classified as emerging. MSCI reiterated its classification
framework is based on the actual market accessibility and investment experience
of international institutional investors and that classifications are reassessed
as conditions change.