South Korea's listed firms' equity financing reached 7.73 trillion won (US$5.64 billion) in 2008, down 41.9 percent from the previous year, Korea Securities Depository said on Thursday.

The agency attributed the fall to the bearish stock market which weighed on the efforts of companies to raise funds through share issuance

The benchmark Korea Composite Stock Price Index (KOSPI) plunged last year amid the global financial turmoil.

The agency added that equity financing by companies traded on the secondary stock market also plunged 32 percent from a year earlier to 4.37 trillion won (US$3.18 billion).

(Xinhua News Agency January 22, 2009)