Tech giant Samsung Electronics Co. showed the highest ratio of foreign ownership at 36 percent, the data showed. (image: KobizMedia/ Korea Bizwire)
SEOUL, Oct. 17 (Korea Bizwire) – Shares held by foreign investors at South Korea’s top 30 listed firm have exceeded 315 trillion won (US$278 billion), data showed Sunday.
According to the Financial Supervisory Service data submitted to the National Assembly, shares held by foreign investors were 67 percent of the total share ownership as of September.
Tech giant Samsung Electronics Co. showed the highest ratio of foreign ownership at 36 percent, the data showed.
Shares held by foreign investors exceeded 10 trillion at SK hynix, the nation’s second-biggest firm by market value, Hyundai Motor Co., the nation’s leading automaker, and the nation’s largest portal Naver Corp., respectively, the data showed.
Rep. Park Chan-dae of the main opposition Minjoo Party of Korea cited an example of the battle between U.S. hedge fund Elliott Associates L.P. and Samsung Group.
“When the management and the fund fight over the problem of company succession, there is concern that the business circle may side with the fund to meet their needs and incur losses to the firm and eventually incur bigger losses to small shareholders,” said Park.
South Korea lowered restrictions on foreign investment following the 1997-98 financial crisis. The nation saw a sharp hike in foreign holdings, which rose to as much as 40 percent.
(Yonhap)
