S.Korea's Naver gains on plans to spin-off online payment business

Mirae Asset Securities

25/07/2019 03:30

** Shares of web portal operator Naver Corp  035420.KS  jump
as much as 8.5%, marking their highest since early March, after
co says it plans to spin-off its online payment system business 
   urn:newsml:reuters.com:*:nS6N24K00T
    ** Co is expected to attract investment worth more than 500
bln won ($424.02 million) from Mirae Asset Daewoo  006800.KS  -
regulatory filing 
    ** The new company could highlight Naver's hidden value
particularly after confirming details of investment by its
strategic partner Mirae Asset Daewoo - Lee Mina, analyst, KTB
Investment Securities 
    ** Co says http://dart.fss.or.kr/dsaf001/main.do?rcpNo=20190725800005
 its Q2 operating profit down 49% from a year earlier to 128
billion won ($108.55 million) 
    ** The earnings shock is led by an increase in marketing
costs for LINE Pay in Japan, but the cost is expected to decline
from H2, Kim Min-jung, an analyst at HI Investment & Securities
says in a report 
    ** The broader KOSPI market  .KS11  was trading down 0.8%

($1 = 1,179.2000 won)

 ((hayoung.choi.thomsonreuters.com@reuters.net))