Hanwha Life Insurance, Hyundai Steel and Lotte Shopping are among 151 companies publicly flagged by the Korea Exchange for their persistently low valuations. The bourse operator revealed the list Sunday in an unprecedented move aimed at pushing listed firms to improve their corporate value. The initiative targets companies that have consistently traded at low price-to-book ratios (PBRs) while doing little to return capital to shareholders. Whether the public disclosure will spur them to take concrete steps to boost their valuations and help narrow the so-called "Korea discount" remains to be seen. The list comprises 96 KOSPI-listed companies and 55 on the Kosdaq that ranked in the bottom 25 percent and 10 percent, respectively, of their markets in terms of PBR over the past three years. PBR measures a company's market capitalization relative to its net assets, showing how much investors are willing to pay for each unit of book value. A ratio below 1 means the company is valued at less than its net assets, potentially reflecting concerns about its growth prospects or how efficiently it d