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South Korea Stocks: Asiana Airlines, Kia, SK Communications

July 28 (Bloomberg) -- Shares of the following companies had unusual moves in South Korea trading. Stock symbols are in parentheses and prices are as of 3 p.m. close in Seoul. The Kospi Index fell 18.46, or 0.9 percent, to 2,155.85.

Asiana Airlines Inc. (020560 KS), South Korea’s second-largest carrier, lost 4.7 percent to 11,050 won, the most since March 14. The company said one of its cargo freighters crashed into the sea south of South Korea’s Jeju island this morning after problems with the aircraft’s controls.

Daelim Industrial Co. (000210 KS), a South Korean builder and petrochemical company, climbed 1.2 percent to 129,500 won. The company won an order worth 707.1 billion won from a joint venture of Saudi Aramco and Dow USA, according to a filing.

Kia Motors Corp. (000270 KS), South Korea’s second-biggest automaker, lost 2.4 percent to 77,500 won, the most since July 12. Kia’s South Korean workers rejected a tentative agreement between the company and the labor union, raising the chances of a strike. Only 47 percent of votes were cast in favor of the agreement made on July 22, said Kim Yeon Hong, secretary general of the Korea Metal Workers Union, an umbrella labor group for Kia employees.

SK Communications Co. (066270 KS), an Internet service provider, retreated 6 percent to 17,400 won, the most since May 25. The company’s websites were hacked, affecting 35 million users, Korea Communications Commission said in a statement.

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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