Seoul: Shares in companies that joined the government-initiated corporate value-up program enjoyed decent gains over the past year, data showed Tuesday. Stock prices of the firms that made filings on their value-up schemes rose 4.5 percent on average in the past one year, far outperforming the 16.9 percent fall in shares in those that had not joined the move, according to the data from the Korea Exchange.
According to Yonhap News Agency, financial companies in particular basked in an average 25 percent gain for the past year. This surge comes as the country pushes for the corporate value-up scheme, which was launched in June 2024, as part of efforts to advance the capital market and ease the so-called "Korea discount."
The data further revealed that the number of companies that joined the move stood at 125 at the end of March, with KOSPI-listed firms accounting for 46 percent of the market capitalization. Their cash dividends amounted to 18 trillion won (US$13.2 billion) last year, accounting for 59 percent of the total.