(Corrects by removing erroneous information from Iraqi electricity ministry about South Korean company.)
The Kospi Index (KOSPI) dropped 1.5 percent to 2,018.61, the biggest decline since Dec. 19.
Kepco Engineering & Construction Co. (052690) (052690 KS) fell 3.3 percent to 77,500. Comments made by the chief executive officer of parent Korea Electric Power to reporters on April 2 indicate winning more orders overseas make take longer than investors expected, Bum Su Jin, an analyst at Samsung Securities Co., said by phone today.
KT&G Corp. (033780) (033780 KS), South Korea’s biggest tobacco company, rose 2.2 percent to 77,800 won. KT&G will begin selling a new cigarette named after the Italian fashion brand “Tonino Lamborghini” on April 18, it said in an e-mailed statement today.
SK Telecom Co. (017670) (017670 KS), South Korea’s largest mobile- phone operator, dropped 3.2 percent to 138,000 won. Posco, the world’s third-biggest steelmaker by output, sold about 2.3 million shares in SK Telecom at a price about 4 percent less than yesterday’s close, Chung Jae Woong, a Seoul-based spokesman for Pohang-based Posco, said by phone today.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org