NAVER unseats SK Hynix as fourth-largest listed company in Korea

March 9, 2014 Leave a comment

NAVER unseats SK Hynix as fourth-largest listed company

2014.03.05 17:13:11

NAVER overtook SK Hynix to become South Korea’s fourth biggest company in terms of market capital.
Shares of NAVER closed at 852,000 won, off the intra-day’s high of 857,000 won, Wednesday on the country’s main bourse KOSPI, up 3.65 percent from the previous close. 
Based on Wednesday’s closing, NAVER had a market cap of 28.08 trillion won, unseating SK Hynix as the fourth largest company after Samsung Electronics, Hyundai Motor and Hyundai Mobis.
SK Hynix retreated to the fifth place with 28.01 trillion won in market capital.
NAVER has gained 24.56 percent since Jan. 25 when news reports that Japan’s SoftBank may buy a stake in Line Corp., the mobile-messaging service owned by NAVER.
Local stock brokers, including Shinhan Investment, have upgraded their target price on NAVER to 1 million won.

Filed under Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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