Korea's forgotten fortune: $1.1 bil. in shares left unclaimed
Nearly 1.5 trillion won ($1.1 billion) worth of shares held by the Korea Securities Depository (KSD) remain unclaimed by some 26,000 shareholders, data showed Thursday. According to data released by Rep. Han Min-soo of the ruling Democratic Party of Korea, the KSD held 800.84 million unclaimed shares worth a combined 1.47 trillion won as of the end of August. Unclaimed shares typically arise when…
According to data released by Rep. Han Min-soo of the ruling Democratic Party of Korea, nearly 1.5 trillion won ($1.1 billion) worth of shares held by the Korea Securities Depository (KSD) remain unclaimed by some 26,000 shareholders as of the end of August. The KSD holds 800.84 million unclaimed shares, which are typically the result of shareholders failing to claim shares issued through rights offerings, bonus issues, or stock dividends.
Shareholders may be unaware of the newly issued shares or miss notifications after changing their addresses, leading to the shares being held by the KSD or other designated transfer agents until their rightful owners claim them.
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- Korea's forgotten fortune: $1.1 bil. in shares left unclaimed koreatimes.co.kr
