W47tr wiped out from Korean stock market on Brexit vote

[THE INVESTOR] Over 47 trillion won (US$40 billion) has been erased from the Korean stock market as Britain voted to leave the European Union on June 24. The combined market capitalization on the main KOSPI and tech-heavy KOSDAQ markets fell by 47.44 trillion won to 1,420.32 trillion won from a session earlier. It is the biggest drop since Nov. 10, 2011, when the market cap plunged by 57.22 trillion won. Market heavyweight Samsung Electronics plunged 2.1 percent. Hyundai Mobis fell 2.27 percent

June 24, 2016

Korea Asset In Trust to go public in July

[THE INVESTOR] Real estate trust company Korea Asset In Trust is set to go public on Korea’s benchmark KOSPI on July 13. “Through the initial public offering, the company will go beyond real estate trust business and become the No.1 real estate and finance company,” Kim Kyu-chul head of KAIT said at a press conference in Yeouido, Seoul, on June 24. Established in 2001, KAIT is the market leader in real estate trust companies in Korea. In the first quarter this year, the company recorded operatin

June 24, 2016

Won-yuan direct trading market in China to be launched next week

[THE INVESTOR] The Chinese market for direct trading of the South Korean won and Chinese yuan will be launched next week, the South Korean Finance Minister said on June 24.The won-yuan direct trading market will begin operations in Shanghai on June 27. The state-run Chinese Foreign Exchange Trading System will take charge of the management. “South Korea and China are important trade partners,” Finance Minister Yoo Il-ho said in an official opening ceremony held in Beijing. “The newly launched cu

June 24, 2016