[Featured Stock] Heungkuk F&B, Aggressive Investment in Coupang and Market Kurly's New York Listing

[Asia Economy Reporter Hyunseok Yoo] Heungkuk F&B is soaring. The news that Market Kurly has selected underwriters to list on the U.S. market appears to be influencing the stock price.

As of 9:15 a.m. on the 26th, Heungkuk F&B was trading at 5,370 KRW, up 15.36% (715 KRW) from the previous trading day.

According to the investment banking (IB) industry on the 25th, Market Kurly has chosen Goldman Sachs, Morgan Stanley, and JP Morgan as underwriters. They switched the underwriting group to foreign firms to list on the U.S. stock market. Market Kurly had been reviewing a domestic listing since the end of 2017 after signing an underwriting contract with Samsung Securities.

Market Kurly aims to enter the New York Stock Exchange (NYSE) within this year. Global venture capital firms such as Sequoia Capital China, Hillhouse Capital, and DST Global are heavily involved as financial investors (FI).

Aggressive investments by companies like Coupang and Market Kurly are expected to continue domestically. Coupang, which raised large-scale funds through its New York stock market listing, will begin aggressive investments in fulfillment centers starting this year. Coupang is currently building logistics centers in Daegu (320 billion KRW), Gwangju (224 billion KRW), Daejeon (60 billion KRW), Gimcheon (100 billion KRW), Eumseong (100 billion KRW), and Jecheon (100 billion KRW).