M&A value in S. Korea reaches 7.3 tln won in H1

SEOUL, Nov. 12 (Yonhap) -- The value of mergers and acquisitions by listed firms in South Korea amounted to 7.3 trillion won (US$6.2 billion) in the first six months of this year, data showed Tuesday.

There were 139 mergers, spinoffs and business sales in the January-June period, compared with 294 cases worth 38.7 trillion won in 2018, according to the data compiled by the Financial Supervisory Service (FSS).

The half-year value marked the lowest in two years due to a lack of big name mergers, the FSS said.

Inter-affiliate M&As among business conglomerates accounted for about half of the total M&A value, underscoring local companies' efforts to reshuffle their affiliates and subsidiaries to streamline their business portfolios and improve their balance sheets, according to the watchdog.

The FSS also said big companies need to spend more to merge with venture startups as part of the government's efforts to reinvigorate the economy.

kdh@yna.co.kr
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