The headquarters of Samsung Electronics Co. in Seoul (Yonhap)
SEOUL, April 13 (Korea Bizwire) — The market value of listed firms in South Korea tumbled by nearly 70 trillion won (US$57 billion) in the first quarter of the year due to a bearish stock market, a corporate tracker said Wednesday.
The market capitalization of 2,470 companies listed on the country’s main and secondary bourses stood at 2,511 trillion won as of end-March, down 69 trillion won from the start of the year, according to the data from the Korea CXO Institute.
The market value of Samsung Electronics Co., the world’s top memory chip and smartphone maker, reached 415.5 trillion won as of end-March, down 53.7 trillion won from three months earlier and marking the biggest decline.
Samsung Electronics was followed by game developer Krafton Inc. with about 9 trillion won, chip giant SK hynix Inc. with 7.6 trillion won and leading automaker Hyundai Motor Co. with 6.4 trillion won.
In contrast, KB Financial Group Inc. posted the largest increase with 2.3 trillion won, trailed by Shinhan Financial Group Co. with 2.2 trillion won and top shipyard Hyundai Heavy Industries with 1.9 trillion won.
The number of companies with a market cap of 1 trillion won or more came to 273 as of end-March, down 15 from three months earlier, according to the data.
(Yonhap)
