South Korean President Lee Jae Myung said a correction in the country’s equity market was inevitable after its rapid ascent, while arguing that domestic stocks remain undervalued. His comments follow a sharp reversal in some of the market’s biggest stocks, which wiped about 182 trillion won ($137 billion) from the estimated value of the National Pension Service’s major domestic equity holdings in the third quarter. Declines in Samsung Electronics Co. and SK Hynix Inc. were major contributors.