KSD "122 Companies Changed Names Last Year... 28.4% Increase from Previous Year"
[Asia Economy Reporter Minji Lee] The Korea Securities Depository announced on the 2nd that 122 listed companies changed their names last year, an increase of 28.4% (27 companies) compared to the previous year.
By securities market, 39 companies changed their names in the KOSPI market, an increase of 14 companies compared to the previous year. In the KOSDAQ market, 83 companies changed their names during the same period, an increase of 13 companies.
Although there was a declining trend since 2017 (106 companies), the number of listed companies changing their names has been increasing since 2019 (95 companies), according to analysis.
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Regarding the reasons for name changes, "enhancing company image" was the most common with 59 companies (36.9%). This was followed by "business diversification" with 42 companies (26.3%), "company split/merger" with 32 companies (20%), and "improving management objectives and strategies" with 18 companies (11.3%).
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