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KRX sets up task force to lure Asian blue chip firms

All News 14:51 January 19, 2016

SEOUL, Jan. 19 (Yonhap) -- South Korea's bourse operator said Tuesday it launched a task force to get Asian blue chip companies to go public here.

The task force involving financial and legal experts is comprised of two teams -- one to attract firms in Vietnam and the other specialized for Indonesian companies, the Korea Exchange (KRX) said.

The two nations have the largest markets in Southeast Asia and, with their solid economic growth, have many companies that can make successful stock market debuts in South Korea, the KRX said.

According to the data by the International Monetary Fund, Vietnam logged 6.5 percent growth last year and Indonesia expanded 4.7 percent.

The experts will make customized strategies, hold briefing sessions for potential clients and offer consulting services, according to the KRX.

"Now is high time for us to proactively attract foreign companies to the local bourse to heighten the national status in the global arena," KRX official Kim Won-dae said, pointing to the record high level of local newcomers to the stock market.

The KRX said that it aims to diversify its target areas so as to attract more companies from different countries down the road.

In 2015, a total of 128 firms went public on the country's main KOSPI market or the tech-laden KOSDAQ market, hitting a 13-year high, according to KRX data.


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