Seoul: The number of South Korean-listed companies with a market capitalization exceeding 1 trillion won has surpassed 400 for the first time this year, driven by a recovery in the stock market prior to the Middle East conflict. The data, released on Sunday, indicates a significant development in the financial landscape.
According to Yonhap News Agency, as of Wednesday, 405 companies listed on the local bourse, including those with preferred shares, have achieved a market capitalization of over 1 trillion won. This data was provided by the Korea Exchange, which operates South Korea's main bourse.
The market breakdown shows that 267 of these firms are listed on the benchmark Korea Composite Stock Price Index (KOSPI), 137 are on the tech-heavy KOSDAQ, and one firm is listed on KONEX, the exchange for small and medium-sized enterprises and venture firms.
Among these companies, 79 have reached a market capitalization exceeding 10 trillion won. This marks a notable recovery from February 27, just before the initiation of U.S. and Israeli strikes on Iran, when the number of companies with over 1 trillion won in market capitalization was 377.
The South Korean stock market has recently experienced a bullish trend, driven by a renewed artificial intelligence rally as the corporate earnings season approaches. Despite a significant drop of 12 percent in a single session at the onset of the conflict, the benchmark KOSPI has rebounded, closing at a record high of 6,690.9 points on Wednesday.