March 8, 2000 
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| March 8, 2000 | atimes.com | |
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| The Koreas Web, IT firms to comprise most of third stock market SEOUL - Over 60 percent of members of the new over-the-counter stock market to open later this month are related to the Internet or to information and technology, the Korea Securities Dealers' Association and securities experts said Tuesday. The Financial Supevisory Commission said Tuesday that the market for unlisted and unregistered stocks will be ready for opening later this month. A total of 215 companies have applied for entry to the third bourse, of which 60 will be ready for trading immediately after opening. LG Investment and Securities said 51 percent of the applicants to the third market are engaged in web-related services, 27 percent in manufacturing and 12 percent in IT business. Up to 86 percent of the member candidates have capital of under 3 billion won ($2.6 million). Experts advise discretion in investing in the high-risk bourse because it has no limit in price falls and rises. Retail investors have both greater opportunity and responsibility over their investment, with regulations on public notification more relaxed with the third market. Speculative attempt and manipulation is also easier and unlike other registered markets, the third bourse imposes a tax on stock gains - 20 percent on those from large stocks and 10 percent from small and mid-sized cap companies. (Asia Pulse/Yonhap) | |||||||||
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