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POSCO likely to overtake Hyundai Motor to become No 3 market cap status in South Korea

Steel News - Published on Fri, 11 Aug 2017

Image Source: SteelGuru
Yonap reported that South Korea's top automaker Hyundai Motor Co stands to lose its No 3 status in terms of market value to surging steelmaker POSCO due to stalling stock prices stemming from lackluster earnings. According to the data by the Korea Exchange, Hyundai Motor's market capitalization stood at KWR 32.2 trillion as of Wednesday, compared with KWR 29.6 trillion for the country's leading steelmaker POSCO. Analysts said POSCO could overtake Hyundai Motor and emerge as the third-largest cap sooner or later in light of their earnings outlooks.

The gap in the market cap of the two companies, which reached as high as KWR 10 trillion won at the start of the year, has been narrowing sharply thanks to POSCO's stellar performance this year.

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Posted By : Sanju Moirangthem on Fri, 11 Aug 2017
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