Gwangju Shinsegae shares soared over 20% just before the market closed, reaching a new 52-week high.
According to the Korea Exchange, as of 2:55 PM, Gwangju Shinsegae was trading at 41,400 won, up 7,150 won (20.88%) from the previous trading day. During the session, the stock peaked at 42,450 won, setting a new 52-week record.
Investor sentiment has been buoyed by expectations of a large-scale semiconductor cluster being established in the Gwangju and Jeonnam regions.
Multiple media reports on the same day indicated that Samsung Electronics and SK Hynix are considering establishing semiconductor production bases in the Gwangju and Jeonnam areas. Notably, SK Group is expected to announce plans for a large industrial complex that integrates semiconductor production with artificial intelligence (AI) data centers.
Market analysts believe that if semiconductor front-end fabs and back-end facilities are built, investments could reach hundreds of trillions of won. The expansion of advanced semiconductor production facilities from the Seoul metropolitan area to the Honam region is anticipated to have significant ripple effects on the local economy, including the influx of partner companies, job creation, and population growth.
Gwangju Shinsegae operates department stores in the Gwangju area and is considered a key beneficiary of regional economic revitalization. Should the establishment of large industrial complexes and population influx materialize, there are expectations for improved performance due to increased consumer spending.
* This article has been translated by AI.
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