SEOUL, May 11 (Korea Bizwire) – A rising number of Korean companies are voluntarily delisting. The simple logic: there’s more harm than good for companies that remain public. According to the Korea Exchange (KRX), Kyungnam Energy will go through liquidation proceedings and be delisted on May 19. The company’s biggest shareholder, Kyungnam Tech, requested the voluntary [...]
SEJONG, April 4 (Korea Bizwire) – Kakao Corp., the operator of South Korea’s top mobile messenger KakaoTalk, has been included on the antitrust watch list as a large business group, with its mutual investments and loan guarantees to be restricted, the watchdog said Sunday. The Fair Trade Commission (FTC) announces a newly updated list of large [...]
SEOUL, March 25 (Korea Bizwire) – Netmarble Games, South Korea’s No. 1 mobile game developer and publisher, is expected to seek listing on the country’s main bourse instead of on the tech-heavy KOSDAQ or overseas, sources said Friday. The company’s market capitalization is estimated at approximately 10 trillion won (US$8.57 billion), putting it nearly on par [...]
SEOUL, Sept. 23 (Korea Bizwire) — Daum Kakao, the operator of South Korea’s most popular mobile messenger KakaoTalk, renamed itself and appointed a new chief executive officer on Wednesday, marking a turning point almost a year after its merger. At an emergency meeting, shareholders approved plans to rename itself Kakao and appoint nominee Rim Ji-hoon [...]
SEOUL, Aug. 6 (Korea Bizwire) – With the KOSPI stalling due to a series of poor earnings reports, short selling hit a record during July, hinting that investors have a negative outlook on the future of the Korean economy. According to the Korea Exchange on July 5, the average daily value of short selling in the KOSPI was [...]
SEOUL, July 1 (Korea Bizwire) – Foreign ownership of South Korean stocks has fallen below the 30-percent level for the first time in nearly four years as market heavyweights preferred by offshore investors underperformed small-caps this year, the nation’s bourse operator said Wednesday. The value of local stocks held by foreign investors was estimated at [...]
SEOUL, June 24 (Korea Bizwire) — Venture capitalists have poured money into tech start-ups this year as the bullish tech-heavy bourse boosted hope for lucrative returns from public offerings and low interest rates made cheap capital available, data showed Wednesday. Total investment in South Korean venture firms stood at 5.8 trillion won (US$5.24 billion) as of [...]
SEOUL, Jun. 23 (Korea Bizwire) — The capitalization of the tech-heavy KOSDAQ market surpassed the 200-trillion won (US$181 billion) level for the first time since its launch in 1996, driven by retail investors seeking higher returns and a bright earnings outlook, its operator said Tuesday. The KOSDAQ market index, which tracks the prices of 1,077 [...]
SEOUL, April 21 (Korea Bizwire) — A South Korean telecom device maker said Tuesday it has sent an official letter of complaint to the Seoul branch of Huawei Technologies, asking the Chinese firm to follow business ethics and stop recruiting its workforce. “Huawei has been making overreaching moves to take away experts from its rivals [...]
SEOUL, March 26 (Korea Bizwire) — The market value of bio and health care shares listed on the South Korean stock markets surpassed 30 trillion won (US$27.22 billion) for the first time as investors pinned high hopes on their future growth, the bourse main operator Korea Exchange (KRX) said Thursday. The combined market cap of the [...]