MSCI newly includes 4 firms in Korea Index

Seoul (South Korea), May 12: Global index provider Morgan Stanley Capital International (MSCI) has newly included four companies in its Korea Index while removing seven firms, industry sources said Wednesday.
New entrants are South Korea's leading shipper HMM Co.; Hybe Co., the K-pop powerhouse behind BTS; SKC Inc., the chemical unit of South Korean conglomerate SK Group; and pharmaceutical firm Green Cross Corp.
Dropouts are Samsung Card Co., Lotte Corp., Korea Gas Corp., GS Retail Co., Hanwha Corp., Hyundai Marine & Fire Insurance Co. and food firm Ottogi Co.
The U.S.-based MSCI selects newcomers to its Korea Index and dropouts on the basis of market caps.
The MSCI Korea Index is aimed at gauging the performance of the large- and mid-cap segments of the South Korean market, covering nearly 85 of the Korean equity universe.
Noh Dong-gil, an analyst at NH Investment & Securities Co., said the change in components of the MSCI Korea Index is likely to drive South Korea's portion of the MSCI Emerging Markets Index down to 13.5 percent from the current 13.7 percent.
MSCI is slated to adjust South Korea's proportion based on the May 28 closing prices of companies included in its Korea Index.
Source: Yonhap