KSD Implements Name Changes for 64 Companies in the First Half of This Year
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 64, a 3% (2 companies) decrease compared to the same period last year.
By securities market, 20 companies changed their trade names in the KOSPI market, an increase of 5 companies compared to 15 last year, while 44 companies changed their trade names in the KOSDAQ market, a decrease of 7 companies compared to last year.
The number of companies changing their trade names in the first half of the year has been declining since 2021. The figures were 53 companies in 2019, 55 in 2020, 80 in 2021, 66 in 2022, and 64 in 2023.
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This year, the most common reason for changing company names was to enhance management objectives and strategies, accounting for 32 companies (41%). This was followed by improving company image with 19 companies (22.4%), business diversification with 13 companies (16.7%), and company splits and mergers with 8 companies (10.2%).
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