The American Stock Exchange(R) Announces Exclusive Listing Arrangement with Concord Capital in South Korea

Apr 03, 2001, 01:00 ET from American Stock Exchange

    NEW YORK, April 3 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R))
 today announced that the Amex has entered into an exclusive business
 relationship with Concord Capital Ltd., of South Korea.  At a signing ceremony
 earlier today, Peter Quick, president of the Amex, stated that the focus of
 this relationship will be both on raising the profile of the Amex in South
 Korea and on securing listings from major Korean companies.
     "Korea is the 11th largest economy in the world and the Amex wants to be
 part of this tremendous potential," said Mr. Quick.  He also pointed out that
 this will allow the Amex to provide investors with investment opportunities in
 some of the most exciting companies in Asia today.
     "The reality," stated Mr. Quick, "is that deregulation, technology and
 globalization have removed the competitive protection stock exchanges have
 enjoyed within their national boundaries.  The Amex's retention of Concord
 Capital as its exclusive listing consultant demonstrates our commitment to
 attract leading companies no matter where they may be based."
     Concord Capital is a financial advisory services firm based in Seoul with
 a broad network of corporate clients.  President and Chief Executive Officer
 Frank Hong asserted that Korea's economic recovery is the most advanced among
 all the economies hit by the 1997 financial crisis and that ongoing corporate
 restructuring has Korean companies seeking investment in foreign capital
 markets.
     Mr. Hong pointed out that from the onset of the regional financial crisis,
 the Korean Government made attracting outside investment a cornerstone of its
 reform agenda.  Foreign direct investment in Korea totaled US $15.6 billion in
 2001 (approximately 40% from U.S.-based investors) and portfolio investment
 topped US $11 billion.  "On this level, the Government's reform program has
 been a tremendous success.  Now we have to take the next step -- bring these
 Korean success stories to investors in the U.S."
     Mr. Perry Peregoy, senior vice president of Equities at the Amex, stated
 that those firms seeking to list on the Amex will have to adhere to US GAAP
 and international standards of corporate governance.  "Listing on the Amex not
 only serves as a vehicle to secure international investors, but also increases
 the company's profile and the credibility of the management teams of those
 listed firms," Mr. Peregoy said.
     Mr. Hong said, "Foreign investors currently own approximately 25% of all
 stocks traded on the Korean Stock Exchange.  Institutional investors will now
 have easier access to Korean companies, while at the same time providing
 alternative sources of capital for those companies listing on the Amex."
 
     The American Stock Exchange(R), a subsidiary of the National Association
 of Securities Dealers, Inc. NASD(R)), is the only primary exchange that offers
 trading across a full range of equities, Exchange Traded Funds (ETFs),
 including structured products and HOLDRS(SM), and options.  In addition to its
 role as a national equities market, the Amex is the leader in ETF listings,
 listing 97 ETFs to date, and is the second-largest options exchange in the
 U.S., trading options on broad-based and sector indexes as well as domestic
 and foreign stocks.  For more information, visit http://www.amex.com.
 
 

SOURCE American Stock Exchange
    NEW YORK, April 3 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R))
 today announced that the Amex has entered into an exclusive business
 relationship with Concord Capital Ltd., of South Korea.  At a signing ceremony
 earlier today, Peter Quick, president of the Amex, stated that the focus of
 this relationship will be both on raising the profile of the Amex in South
 Korea and on securing listings from major Korean companies.
     "Korea is the 11th largest economy in the world and the Amex wants to be
 part of this tremendous potential," said Mr. Quick.  He also pointed out that
 this will allow the Amex to provide investors with investment opportunities in
 some of the most exciting companies in Asia today.
     "The reality," stated Mr. Quick, "is that deregulation, technology and
 globalization have removed the competitive protection stock exchanges have
 enjoyed within their national boundaries.  The Amex's retention of Concord
 Capital as its exclusive listing consultant demonstrates our commitment to
 attract leading companies no matter where they may be based."
     Concord Capital is a financial advisory services firm based in Seoul with
 a broad network of corporate clients.  President and Chief Executive Officer
 Frank Hong asserted that Korea's economic recovery is the most advanced among
 all the economies hit by the 1997 financial crisis and that ongoing corporate
 restructuring has Korean companies seeking investment in foreign capital
 markets.
     Mr. Hong pointed out that from the onset of the regional financial crisis,
 the Korean Government made attracting outside investment a cornerstone of its
 reform agenda.  Foreign direct investment in Korea totaled US $15.6 billion in
 2001 (approximately 40% from U.S.-based investors) and portfolio investment
 topped US $11 billion.  "On this level, the Government's reform program has
 been a tremendous success.  Now we have to take the next step -- bring these
 Korean success stories to investors in the U.S."
     Mr. Perry Peregoy, senior vice president of Equities at the Amex, stated
 that those firms seeking to list on the Amex will have to adhere to US GAAP
 and international standards of corporate governance.  "Listing on the Amex not
 only serves as a vehicle to secure international investors, but also increases
 the company's profile and the credibility of the management teams of those
 listed firms," Mr. Peregoy said.
     Mr. Hong said, "Foreign investors currently own approximately 25% of all
 stocks traded on the Korean Stock Exchange.  Institutional investors will now
 have easier access to Korean companies, while at the same time providing
 alternative sources of capital for those companies listing on the Amex."
 
     The American Stock Exchange(R), a subsidiary of the National Association
 of Securities Dealers, Inc. NASD(R)), is the only primary exchange that offers
 trading across a full range of equities, Exchange Traded Funds (ETFs),
 including structured products and HOLDRS(SM), and options.  In addition to its
 role as a national equities market, the Amex is the leader in ETF listings,
 listing 97 ETFs to date, and is the second-largest options exchange in the
 U.S., trading options on broad-based and sector indexes as well as domestic
 and foreign stocks.  For more information, visit http://www.amex.com.
 
 SOURCE  American Stock Exchange