SEOUL, KOREA- Since June, the market capitalization of major Korean corporations has risen by a large margin. According to the global corporation market cap ranking announced by Bloomberg on September 22, Hyundai Motor gained 40 notches to 181st from 221st immediately after the Federal Open Market Committee said it may wind down its quantitative easing policy on June 19.

 

Hyundai Mobis, Hyundai Motor's parts supplier affiliate, moved up 41 steps to 408th while Kia Motors 82 levels to 417th. During the same period, Samsung Electronics moved up to 25th from 26th while POSCO to 399th from 416th.

 

Since the Fed chairman Ben Bernanke hinted his monetary policy makers may phase out its $85-billion-a-month bond purchase program by the year's end, the emerging country stock markets have plummeted in droves. Unlike the markets of India, Indonesia, South Africa, and elsewhere, however, Korea's financial markets have seen a net inflow of foreign capital ever since as the Korean economy is considered sound in terms of current account balance.