Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Hanjin KAL, Doosan Robotics touted as possible newcomers to MSCI Korea Index
The logo of the Morgan Stanley Capital International (MSCI) Index / Korea Times file
By Yi Whan-woo
Hanjin KAL, the holding company of the country’s flag carrier Korean Air, is touted as a potential newcomer to the Morgan Stanley Capital International (MSCI) Korea Index, according to financial sources, Sunday.
The sources said Doosan Robotics, a fast-growing business arm of the country’s oldest conglomerate Doosan Group, could also possibly land on the index.
Other potential candidates to join the list are EcoPro Materials, a mass producer of precursor materials for secondary batteries, and Alteogen, a biopharmaceutical company specialized in immunotherapy for cancer.
The index is a list of a qualified segment of large and small caps handpicked by Morgan Stanley on the Korean market.
The successful qualifiers will be announced on Feb. 13.
It will be the first of four regular annual updates, including ones in May, August and November.
“The possible inclusion can boost performances of the corresponding companies by attracting capital from abroad,” a source said.
The source noted Morgan Stanley is a prestigious global investment bank and that its index serves as a benchmark that is closely monitored by foreign institutional investors.
Evaluation for MSCI inclusion is based on total and free-floating market capitalization.
Companies can be delisted if they fall short of meeting criteria.
The MSCI Korea Index currently has 104 constituents. They include EcoPro, the parent company of EcoPro Materials. The company was listed in August 2023.