January 3, 2013 / 1:15 AM / 5 years ago

Korea Hot Stocks- Halla dives on report Hyundai changes supplier

SEOUL, Jan 3 (Reuters) - South Korea’s main KOSPI share index was down 0.1 percent at 2,029.82 points as of 0032 GMT. The index opened up 0.5 percent.

Stocks on the move on Thursday include:


Halla Climate Control Corp tumbled as much as 9.3 percent on Thursday after a media report said its biggest customer, Hyundai Motor Group, plans to change its suppliers.

The Korea Economic Daily said Hyundai Motor has changed its supplier from Halla, which makes automobile air conditioning and heating systems, to Denso Corp for its new Sonata sedan, which will be produced at the automaker’s U.S. plant in Alabama from next year.

A Halla Climate Control spokesman declined to comment.


Woongjin Holdings jumped by the daily permissible limit of 15 percent after it said late on Wednesday that it acquired a controlling stake in Woongjin Chemicals , which also jumped 15 percent.

The stake was previously held by water purifier-maker Coway (formerly Woongjin Coway). Woongjin Holdings, the parent company of the cash-strapped group, is in the midst of reorganizing its business empire through a court receivership.

Coway, which is highly profitable, is to be sold to local private equity fund MBK Partners in one of the largest Asian leverage buyout deals in recent years, to help raise money for Woongjin group.

Shares in other Woongjin affiliates Woongjin Energy also hit the ceiling on hopes of a group-wide turnaround. (Reporting By Hyunjoo Jin and Somang Yang; Editing by Eric Meijer and Prateek Chatterjee)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below