Kumho Electric has seen its shares rise for two consecutive days, buoyed by the commitment of Chey Tae-won, chairman of SK Group, to invest in a semiconductor cluster in the Honam region. As plans for semiconductor investment in Honam gain renewed attention, buying interest has surged for Kumho Electric, a local company.
According to the Korea Exchange, as of 2:23 PM on October 13, Kumho Electric's stock was trading at 11,730 won, up 660 won (5.96%) from the previous trading day. Earlier in the session, the stock peaked at 13,970 won, reflecting an increase of over 18%, before pulling back.
The rise in stock price is attributed to Chairman Chey's repeated affirmations of his commitment to the Honam semiconductor cluster project. On October 9, he visited the site of the planned cluster at Gwangju Military Airport to assess the plans for semiconductor fabrication facilities. He stated, "Once the conditions for building the factory are in place, we will construct it as quickly as possible."
Additionally, during an event in Shanghai on October 11, he emphasized the need to expedite the Honam semiconductor cluster project, highlighting the urgency for domestic investment in response to the rapid expansion of production capacity by global semiconductor companies.
Kumho Electric, based in Gwangju and Jeonnam, has been classified as a related stock for the Honam semiconductor cluster alongside Kumho Construction. Following the announcement of related plans in June, the stock experienced a significant rise, but concerns about the project's feasibility led to a decline. However, the renewed attention following Chairman Chey's site visit has sparked interest once again.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.