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Baek Seung-ryol/Yonhap via REUTERS SEOUL South Korea's President Moon Jae-in on Sunday nominated a former navy chief as his defense minister, the president's office said, as the government faces challenges tackling North Korea's rapidly developing weapons program. The nominee, Song Young-moo, was top article well suited to deal with North Korea's nuclear and missile threat, the presidential Blue House office said. Under third-generation leader Kim Jong Un, North Korea has been conducting missile tests at an unprecedented pace in an effort to develop an intercontinental ballistic missile capable of striking the mainland United States. The North test-launched a new type of its cruise anti-ship missiles on Thursday, its fourth missile test since the South's Moon took office on May 10, pledging to engage in dialogue with Pyongyang. Song, who served in the navy for more than three decades, was Moon's main security adviser during his presidential campaign, reprising his role in Moon's 2012 presidential campaign. A decorated veteran, Song took part in a 2009 skirmish between North and South Korean naval vessels off the western coast of the Korean peninsula. Song's appointment does not need parliament's approval, but he must attend a hearing and answer questions from lawmakers. The Blue House said Song admitted to having falsely registered his residence information in the past, a criminal offense in South Korea. Many of Moon's ministerial choices have faced an uphill battle in parliament on this and other ethical issues, and lawmakers are likely to grill Song the same way. He is expected to cooperate with the United States, the country's major military ally, to respond to the North's growing missile threat.
There’s "less complex corporate governance, which in turn allows the exchange to be more innovative," she said in an email. BYMA will be in a strong position to benefit from slowing inflation and an economy expected to resume growing . Argentina’s market capitalization of about $81 billion is equivalent to 8.5 percent of gross domestic product, compared with Brazil’s market cap of 19 percent and Colombia’s of 23 percent, according to data compiled by Bloomberg. Holders of Merval will get 250,000 shares of BYMA for each share they currently own on May 22 , which will make up 60 percent of the new company. The remaining 40 percent of BYMA is owned by Bolsa, which must divest 20 percent under regulator rules. Bolsa sold 5 percent of its stake to its members and employees at 56 pesos ($3.61) per share, and has until the end of December to sell the rest. The shares will begin trading by settlement auction on May 23. BYMA is expected to trade at 122 pesos per share by end of 2017, according to a analysts have a target price of 100 pesos per share. The most valuable part of the new company is its Caja de Valores business, which acts as Argentina’s central depositary of public bonds and private securities, according to Santiago Lopez Alfaro, a director at Buenos Aires consulting firm Delphos Investment. That business’s revenue, estimated by Delphos to represent 75 percent of BYMA’s value, is expected to directly gain if market activity grows and demand for the custodian’s services rises. "That business could be threatened in the future as there aren’t legal barriers for the entry of new players," Lopez Alfaro said.
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