Listed companies' name changes on rise

The number of companies that has changed their names has steadily increased in recent years as some of them sought to improve their corporate images, data showed Friday.

Data compiled by the Korea Securities Depository showed that 99 companies -- 19 on the main bourse KOSPI and 80 on the tech-savvy KOSDAQ market -- changed their names in 2016, compared with 67 in 2013.

The Korea Securities Depository said 52.5 percent of the companies changed their names to improve their images. Other reasons behind name changes of companies include mergers and expansion of businesses.

Last year, Mirae Asset Financial Group changed the name of KDB Daewoo Securities Co. to Mirae Asset Daewoo after it acquired the country's second-biggest brokerage by capital.

Haengnam Chinaware has also changed its name to Haengnam Household & and Healthcare as it expanded its business beyond making porcelain. (Yonhap)