Korea Exchange to slash 10 pct of workforce to raise efficiency

SEOUL, Jan. 4 (Yonhap) -- South Korea's bourse operator Korea Exchange (KRX)
plans to cut 10 percent of its 750-strong workforce down the road to boost
efficiency, the exchange said Monday.
The bourse operator will also slash wages by 5 percent and reduce executive
positions in a bid to cut costs, the KRX said in its reform plan.
Under the plan, the bourse operator will also revise its rules and make other
preparations to establish a market for trading in carbon emissions credits in
2013.
The KRX will also examine a plan to offer its shares to the public over the
mid-to-long haul, it said.
The plan also includes the KRX's scheme to jointly set up a stock exchange in
Mongolia and lure more overseas companies to list on the Seoul bourse.
The KRX will come up with a final reform plan in the first half of this year
after consultation with the government and relevant sectors, it said.
The KRX appointed Kim Bong-soo, a former vice chairman of Kiwoom Securities Co.,
as its new CEO on Thursday.
pbr@yna.co.kr
(END)