Emerging-market stocks have room for further gains in the next one to two years because of earnings and economic growth prospects, said Allan Conway, head of emerging-market equities at Schroder Investment Management.

"There's significant return for emerging markets" after driving world growth and with corporate earnings set to strengthen, Conway told reporters in Seoul. Emerging nations will represent 70 to 75 percent of global growth for the "foreseeable future", he said.

Among global emerging markets, Conway said he was "overweight" on China, Russia, Indonesia, South Korea, Hungary and Turkey. Global emerging markets that are approaching fair value versus developed have a "much stronger earnings growth outlook", according to Conway.