[Market Now] Korea to see biggest IPOs this year: KRX

The Korean stock market will see its biggest initial public offerings this year, with net stock floatations to exceed the previous record of 8.7 trillion won ($7.6 billion) in 2010.

In a meeting with corporate executives in Seoul on Tuesday, Choi Kyung-soo, chairman and CEO of the Korea Exchange, said that about 20 companies are expected to launch IPOs in the Korean stock market.

Local companies planning stock offerings include Hotel Lotte and Doosan Bobcat, he noted.

Last year, 16 companies listed their shares worth 2.4 trillion won on the local stock market.

By Park Hyong-ki (hkp@heraldcorp.com)