South Korea Stocks: IMarketKorea, Korea Line, Korea Zinc

Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 9:51 a.m. in Seoul. The Kospi Index (KOSPI) fell 23.25, or 1.1 percent, to 2,149.06.

iMarketKorea Inc. (122900) (122900 KS), a procurement services provider, tumbled 15 percent, or the daily limit, to 22,450 won. Samsung Electronics Co. (005930 KS) and its affiliates plan to sell a combined 58.7 percent stake in iMarketKorea, Samsung Group said in a statement.

Korea Line Corp. (005880) (005880 KS), South Korea’s second-largest operator of dry-bulk ships, surged 15 percent to 9,220 won. The stock rose by the daily limit for a second straight day after the company said it aims to reduce debt by selling new shares to creditors under a turnaround plan.

Korea Zinc Co. (010130 KS), which produces gold and silver, lost 1.8 percent to 443,500 won. Gold yesterday declined from a record in New York. Silver futures also fell.

To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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