KOSPI continues bull run
Updated : 2021-01-09 09:23
A monitor located in the lobby of the Korea Exchange s (KRX) building on Yeouido, Seoul, shows the KOSPI s all-time high closing price of 3,152.18 points set Friday. / Courtesy of KRX
By Anna J. Park
Korea s benchmark KOSPI continued its bullish upward trend Friday, finishing at 3,152.18 points, setting another all-time high for the stock index, following Thursday when it also surpassed the 3,000-mark.
Friday s run saw an increase of 3.97 percent from the previous session, when the closing price of the main stock index exceeded the symbolic 3,000-mark for the first time since it was launched in 1983. The index once topped 3,161.11 points during intra-day trading Friday.
Hyundai Motor Group IT units merger faces bumpy road
Posted : 2021-01-01 16:54
By Nam Hyun-woo
The proposed merger between Hyundai Motor Group s three automotive software affiliates is facing a bumpy road ahead as minor shareholders raised opposition to the stock swap ratio for the merger.
According to 38 Communication, an unlisted stock trading portal here, a number of Hyundai MnSOFT shareholders posted statements reflecting their opposition to the proposed three-way merger between Hyundai AutoEver, Hyundai Autron and MnSOFT.
They also posted similar statements on Cheong Wa Dae s public petition website which 356 people have signed as of Friday.
On Dec. 11, AutoEver announced it will merge the two affiliates, as part of Hyundai Motor Group s bid to improve its readiness in the advanced mobility market by integrating the software businesses. If the merger proposal is approved at a shareholders meeting on Feb. 25, AutoEver s presence in the group will grow significantly, as