January 21, 2013 / 12:50 AM / 5 years ago

Korea Hot Stocks-Tongyang, Korea Line

SEOUL, Jan 21 (Reuters) - South Korea’s main KOSPI share index was down 0.54 percent at 1,977.21 points as of 0041 GMT. The index opened up 0.01 percent at 0000 GMT.

Stocks on the move on Monday include:


Shares in Tongyang Inc rose by the daily limit of 15 percent after local media reported affiliate Tongyang Power Inc was likely to be chosen to operate a 2 million kilowatt thermal power plant in Samcheok, Gangwon province on the east coast of the Korean peninsula.

News agency Newsis reported on Sunday some 10 trillion won ($9.5 billion) is expected to be invested in the large-scale power plant project.

The Ministry of Knowledge Economy said in a press release on Sunday it had yet to make a final decision on the operator of the project.


Shares in shipper Korea Line Corp rose 4 percent at 0043 GMT as local media reported binding bids to acquire the shipper were due on Monday.

Some five bidders are expected to submit binding bids including SK Shipping Co Ltd and CJ Group, local newspaper Joongang Ilbo reported last week.

Korea Line had a market cap of 208 billion won ($197 million) as of Friday. Korea Line shares had risen more than 200 percent in 16 sessions as of Friday on investor hopes for a successful sale. ($1 = 1057.2500 Korean won) (Reporting by Joyce Lee; Editing by Richard Pullin)

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