Kookmin deals blow to Kosdaq

Kookmin Bank''s merger with Kookmin Credit Card is a blow to Kosdaq.

Kookmin's decision to merge with Kookmin Credit Card has most people happy with the exception of the unions at Kookmin Card and the business managers at Kosdaq stock exchange.

The merger will see Kookmin Credit Card delisted from Kosdaq in October. This is a major blow for Kosdaq since Kookmin Credit Card is the third biggest stock on the once-booming exchange. Meanwhile, the former eighth-biggest stock, NCSoft Corporation  recently relisted on the KSE under pressure from its foreign shareholders to delist from Kosdaq.

Kosdaq has unfortunately garnered a reputation for itself as a home for day-traders and unprofitable companies. There are around 800 companies listed on Kosdaq and...

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