By Kim Jae-won
The Korea Exchange (KRX), the nation's bourse operator, said Monday that it hosted a promotion event in San Francisco last week to attract U.S. companies to the tech-heavy KOSDAQ market.
"More than 70 officials from companies in the region took part in the event, showing their interest in the Korean capital market. Most of them are bio companies, IT firms and cosmetics corporations which are considering listing their shares on the KOSDAQ," said Kim Jong-il, a KRX senior manager.
Kim said that the minor bourse is popular among foreign companies as many bio and information technology companies are performing strongly in the market. The bourse's biggest stock is Celltrion, a biopharmaceutical company whose market cap is about 9.3 trillion won ($8.6 billion).
Kim declined to reveal the names of the U.S. companies which participated in the event.
The event is part of the KRX's efforts to attract more foreign companies to its bourses. Earlier this year, the KRX talked to executives of U.K. entertainment company Content Media to show them the strengths of Seoul as Asia's stock exchange center. Content agreed to be listed on the KOSDAQ, recognizing the bourse's high valuation for entertainment companies and its relatively cheap operating costs.
Thanks to the KRX's aggressive marketing, six foreign companies in the cosmetics, fashion and retail industries signed local brokerage houses for initial public offerings (IPOs) on Korean stock markets. A total of 18 foreign companies, including nine Chinese firms, are seeking to be listed on local bourses.
According to the KRX, 14 foreign companies are listed on local bourses. Three of them are listed on the main KOSPI while the remaining 11 are listed on the minor KOSDAQ. By country, 10 Chinese companies are listed as are two U.S. firms and one each from Japan and Laos.
Local companies are also preparing IPOs to exploit the vitalized stock markets. About 70 firms plan to be listed on Korea's bourses whose combined IPO prices are expected to reach 2.5 trillion won, according to the KRX and brokerage houses.
DoubleU Games, a local social casino game developer, is one of them. The Facebook-based casino game producer announced last month that it seeks to be listed on the KOSDAQ by the end of this year to draw more funds.
The Korea Exchange (KRX), the nation's bourse operator, said Monday that it hosted a promotion event in San Francisco last week to attract U.S. companies to the tech-heavy KOSDAQ market.
"More than 70 officials from companies in the region took part in the event, showing their interest in the Korean capital market. Most of them are bio companies, IT firms and cosmetics corporations which are considering listing their shares on the KOSDAQ," said Kim Jong-il, a KRX senior manager.
Kim said that the minor bourse is popular among foreign companies as many bio and information technology companies are performing strongly in the market. The bourse's biggest stock is Celltrion, a biopharmaceutical company whose market cap is about 9.3 trillion won ($8.6 billion).
Kim declined to reveal the names of the U.S. companies which participated in the event.
The event is part of the KRX's efforts to attract more foreign companies to its bourses. Earlier this year, the KRX talked to executives of U.K. entertainment company Content Media to show them the strengths of Seoul as Asia's stock exchange center. Content agreed to be listed on the KOSDAQ, recognizing the bourse's high valuation for entertainment companies and its relatively cheap operating costs.
Thanks to the KRX's aggressive marketing, six foreign companies in the cosmetics, fashion and retail industries signed local brokerage houses for initial public offerings (IPOs) on Korean stock markets. A total of 18 foreign companies, including nine Chinese firms, are seeking to be listed on local bourses.
According to the KRX, 14 foreign companies are listed on local bourses. Three of them are listed on the main KOSPI while the remaining 11 are listed on the minor KOSDAQ. By country, 10 Chinese companies are listed as are two U.S. firms and one each from Japan and Laos.
Local companies are also preparing IPOs to exploit the vitalized stock markets. About 70 firms plan to be listed on Korea's bourses whose combined IPO prices are expected to reach 2.5 trillion won, according to the KRX and brokerage houses.
DoubleU Games, a local social casino game developer, is one of them. The Facebook-based casino game producer announced last month that it seeks to be listed on the KOSDAQ by the end of this year to draw more funds.
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