This is essential as you cannot currently create a global portfolio made up of developed world and emerging market without going for an MSCI tracked developed world ETF and a FTSE emerging markets ETF.
This causes you to have zero exposure to countries like South Korea, which MSCI considers an emerging market, while FTSE considers it developed.
Well, there’s the Vanguard FTSE Emerging Markets UCITS ETF (LSE ticker: VFEM) which tracks the FTSE Emerging Index which includes South Korea. It’s a distributing ETF, so you will get some cash income from it.