Reuters: Hot Stocks: Korea Hot Stocks-Hyundai units, Kaesong firms up on hopes of inter-Korean thaw

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Korea Hot Stocks-Hyundai units, Kaesong firms up on hopes of inter-Korean thaw Jun 7th 2013, 01:08 SEOUL, June 7 | Thu Jun 6, 2013 9:08pm EDT SEOUL, June 7 (Reuters) - South Korea's main KOSPI share index was down 0.4 percent at 1951.73 points as of 0053 GMT. The index opened down 0.5 percent at 0001 GMT. **HYUNDAI UNITS, KAESONG FIRMS UP ON N. KOREA THAW NEWS** Shares in Hyundai Merchant Marine Co Ltd rose by their daily limit of 15 percent as signs of a thaw in relations between North and South Korea boosted investor sentiment. North and South Korea announced on Thursday they were planning to hold talks for the first time since February 2011, signalling attempts to repair ties that have been ruptured for months. Hyundai Merchant Marine is the majority shareholder of unlisted Hyundai Asan Corp, operator of the currently suspended tours of Mount Kumgang on the east coast of North Korea. Assets held by Hyundai Group, the parent group of Hyundai Asan, in the Mount Kumgang resort had been frozen after tours were suspended following the shooting death of a visitor in 2008. Shares in other Hyundai Group units also gained ground, with Hyundai Elevator Co Ltd up 14.6 percent. Shares in listed South Korean firms that have production facilities in the presently-closed Kaesong industrial zone in North Korea have also gained, with watch & jewellry maker Romanson Co Ltd rising 13.7 percent. (Reporting by Joyce Lee; Editing by Sunil Nair)

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