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South Korea Stocks: CJ Cheiljedang, Hyundai Steel, Ssangyong


South Korea’s Kospi index rose 16.81, or 1 percent, to 1,753.84 as of 9:14 a.m. in Seoul.

The following are among the most-active stocks in South Korean markets.

Samsung Life Insurance Co.’s shareholders: CJ Cheiljedang Corp. (097950 KS) climbed 3.5 percent to 238,000 won. Shinsegae Co. (004170 KS) gained 1.4 percent to 522,000 won. Samsung Life’s shareholders aim to raise 4.89 trillion won ($4.4 billion) in South Korea’s biggest initial public offering after setting the offer price near the top of a marketed range. The nation’s biggest life insurer set the IPO price at 110,000 won a share, the company said in a filing. That compares with the indicative range of 90,000 won and 115,000 won apiece.

Hyundai Steel Co. (004020 KS), South Korea’s second-largest steelmaker, rose 1.4 percent to 92,200 won. The company said it will raise prices by as much as 23 percent starting May 1 to reflect higher raw-material costs.[Read More]