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Naver becomes 4th largest firm in South Korea

[THE INVESTOR] Naver, South Korea’s largest internet portal operator, has risen to the country’s fourth most valuable public company in terms of market capitalization on upbeat earnings outlook.

Shares of Naver closed 1.47 percent higher at 900,000 won (US$818.55), pushing its market cap to 29.66 trillion won.

During the afternoon trading session, Naver shares reached an all-time high of 903,000 won. 



The new record put Naver above SK hynix, which is now the fifth largest company with 29.26 billion won market cap.

Naver shares have continued rallying, propelled by stable earnings growth from portal and mobile ad as well as its subsidiary LINE’s successful initial public offering in the US and Japan in July.

By Park Han-na (hnpark@heraldcorp.com)
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