Merger and acquisition (M&A) activities have picked up in the third quarter in South Korea in line with vitality in the stock market and increase in distressed companies due to lengthening of the virus crisis.

A total of 165 M&A deals took place in the last three months, up 15.2 percent from the same period a year earlier, according to data from the Korea M&A Exchange. The gain in the third quarter reversed from a 3.9 percent on-year drop during the first nine months from 491 to 472.

“Global M&A market is gradually reviving after slumping in the previous quarter due to the Covid-19 pandemic, which might have led to a recovery in the local M&A market,” an official from the exchange said.

Total value of M&A deals posted a much higher gain in the third quarter. The value amounted to 9.42 trillion won ($8.3 billion), jumping 163.6 percent from a year ago.

By Kang In-seon and Choi Mira

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