The parameter $\epsilon'/\epsilon$ describes direct CP violation in the Kaon system.
The parameter is highly suppressed in the Standard Model through two mechanisms: 1, the flavour structure of the CKM matrix and 2, a cancellation of electroweak and QCD contributions.
In this talk I will discuss the status of the theory prediction of this parameter and its sensitivity to
physics beyond the standard model.
A particular focus will be on the perturbative side of the calculation that complements recent progress of Lattice QCD.