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South Korea Stock Movers: Industrial Bank of Korea, SK Chemicals

June 22 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close in Seoul. The Kospi Index rose 15.73, or 0.8 percent, to 2,063.90, rising for a second day.

Industrial Bank of Korea (024110 KS) tumbled 10 percent to 18,500 won, the biggest drop since Dec. 12, 2008, on a government plan to sell part of its 69 percent stake in the country’s largest lender to small- and mid-sized companies. The government aims to sell the shares “within this year in principle,” the finance ministry said in a statement today.

SK Chemicals Co. (006120 KS) rallied 3.5 percent to 71,400 won, the highest close since May 6. Korea Exchange Inc. ordered the company to comment by 6 p.m. today on reports that it’s considering spinning off its chemical and pharmaceuticals businesses.

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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