Bloomberg News

South Korea Stocks: Daewoo, GS Home Shopping, Kepco, KT&G, LG

January 31, 2012

Jan. 31 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the close in Seoul.

The Kospi index rose 0.8 percent to 1,955.79, ending the month 7.1 percent higher. It’s the gauge’s best monthly performance since October.

Daewoo Shipbuilding & Marine Engineering Co. (042660 KS) rallied 6.5 percent to 27,850 won, the highest since Dec. 14. The shipbuilder received an order from Kuwait Oil Tanker Co. to build four very large crude carriers, or VLCCs, and one product vessel for 624.8 billion won ($554 million).

GS Home Shopping Inc. (028150 KS), a television shopping channel operator, dropped 1.6 percent to 108,000 won. Fourth- quarter operating profit dropped 21 percent, according to a regulatory filing.

Korea Electric Power Corp. (015760 KS), which supplies almost all the power in the country, rose 2.4 percent to 27,900 won. A consortium that includes Korea Electric and Mitsubishi Corp. won an $800 million order to build a diesel-powered plant in Jordan, according to a regulatory filing.

KT&G Corp. (033780 KS), South Korea’s biggest tobacco maker, added 2.5 percent to 78,600 won, a fourth day of gains. Price increases by a rival are likely to help boost KT&G’s market share, Korea Investment & Securities Co. said in a report.

LG Innotek Co. (011070 KS), which makes light-emitting diode products, advanced 6.9 percent to 90,000 won. Mirae Asset Securities Co. raised its stock rating to “buy” from “hold,” saying earnings will recover this year. Hyundai Securities Co. also increased its share-price estimate to 100,000 won from 85,000 won. LG Innotek posted an operating loss of 60 billion won for the fourth quarter.

--Editor: Allen Wan

To contact the reporters on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net Jun Yang in Seoul at jyang180@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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