South Korea plans to merge Korea Gas Corporation (036460) with the state-owned Korea National Oil Corporation, Dailian reported Thursday. The government announced the plan in a joint public-institution reform package on September 3 after a review of overlapping agency functions.
The proposed company has the working name Korea Energy Resources Corporation. The government said it will combine functions related to global energy supply chains and national energy security under one organization.
The company's market capitalisation was ₩3.2 trillion at Friday's close. Korea Gas is listed, while Korea National Oil Corporation is state-owned and unlisted under the announced merger plan.
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| Symbol | Last Price |
|---|---|
| 036460Korea Gas Corporation | ₩35,100 -6.9% |