Han Sung Corporation and Monami are experiencing a strong rally as a 'patriotic buying' trend continues amid concerns over potential delisting.
According to the Korea Exchange, as of 1:28 PM on July 14, Han Sung Corporation's stock rose by 1,370 won (14.73%) to 10,720 won compared to the previous trading day.
At the same time, Monami's stock reached its daily limit, climbing 610 won (29.90%) to 2,650 won.
Market analysts attribute the rise in stock prices to individual investors' patriotic buying efforts aimed at supporting the two companies, which have faced delisting concerns due to stricter market capitalization requirements for maintaining listings on the KOSPI.
Starting this month, the minimum market capitalization requirement for maintaining a listing on the KOSDAQ has increased from 20 billion won to 30 billion won, raising concerns about the potential delisting of Han Sung Corporation and Monami, which had not met the new threshold.
Following this, a movement emerged on social media and online communities encouraging the purchase of products from these companies and their stocks.
Han Sung Corporation has gained a patriotic image after it was revealed that it has sponsored a concert for Korean War veterans through the Korea Defense Culture Promotion Association for 25 years. Consumers have been sharing proof of their product purchases, and investors are also confirming their stock purchases.
Monami was highlighted as a key 'patriotic stock' during the boycott of Japanese products triggered by Japan's export restrictions on semiconductor materials in 2019. Recently, posts on social media have continued to emerge, showcasing purchases of Monami products and stock, indicating a surge in buying interest from individual investors.
* This article has been translated by AI.
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