KSD Reports 66 Companies Changed Names in First Half, 17% Decrease YoY
[Asia Economy Reporter Minji Lee] The Korea Securities Depository announced on the 6th that the total number of listed companies that changed their trade names in the first half of this year was 66, a decrease of 14 companies (17.5%) compared to the same period last year (80 companies).
In the KOSPI market, 15 companies changed their trade names, down from 27 companies in the same period last year, while in the KOSDAQ market, 51 companies changed their trade names, a decrease of 2 companies compared to 53 companies in the same period last year.
Over the past five years, the number of companies changing trade names in the first half of the year was 58 in 2018, 53 in 2019, 55 in 2020, and 80 in 2021, showing a decreasing trend since 2021.
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The main reason for trade name changes in the first half of this year was "enhancing company image," accounting for 43 companies (49%). This was followed by business diversification with 16 companies (18.4%), company splits and mergers with 14 companies (16%), and management objectives and strategy enhancement with 11 companies (12.6%).
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