South Korea online messaging services scoring wins in bond market
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Seoul
SOUTH Korea's online messaging services, teaching WhatsApp lessons in how to generate revenue, are also scoring victories in the bond market as investors shun the nation's manufacturers.
Naver Corp, whose Line app is the market leader in Japan, issued 150 billion won (S$183.8 million) of three-year notes on Nov 12, paying 2.126 per cent, less than the average 2.218 per cent on similar corporate securities. Kakao Corp, operator of South Korea's leading messaging app KakaoTalk, plans to sell a bond next month for the first time since a merger last year.
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