  Investigation at a $\phi$--factory can shed light on several debated issues
in particle physics. We discuss: i) recent theoretical development and
experimental progress in kaon physics relevant for the Standard Model tests in
the flavor sector, ii) the sensitivity we can reach in probing CPT and Quantum
Mechanics from time evolution of entangled kaon states, iii) the interest for
improving on the present measurements of non-leptonic and radiative decays of
kaons and eta/eta$^\prime$ mesons, iv) the contribution to understand the
nature of light scalar mesons, and v) the opportunity to search for narrow
di-lepton resonances suggested by recent models proposing a hidden dark-matter
sector. We also report on the $e^+ e^-$ physics in the continuum with the
measurements of (multi)hadronic cross sections and the study of gamma gamma
processes.
