[Featured Stocks] AhnLab and Sunny Electronics, Ahn Cheol-soo 'Theme Stocks' Plummet

Former Bareunmirae Party lawmaker Ahn Cheol-soo returned to Korea through Incheon International Airport on the 19th and is receiving gifts from supporters. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Park Ji-hwan] Former People's Party leader Ahn Cheol-soo's declaration of not running in the general election has caused related theme stocks to plummet.

As of 9:24 a.m. on the 20th, Sunny Electronics is trading at 5,170 won, down 830 won (-13.81%) from the previous day. AhnLab is also trading at 70,500 won, down 11.43%, and the decline continues to deepen.

At a press conference at Incheon International Airport the day before, former leader Ahn stated, "I will create a party that realizes practical centrist politics, moving away from factional politics," and announced that he will not run in this general election.

Earlier, as the possibility of Ahn's candidacy was raised, so-called Ahn Cheol-soo theme stocks surged. AhnLab is the company founded by former leader Ahn, and Sunny Electronics is considered an Ahn Cheol-soo theme stock because its executive, former CEO Song Tae-jong, is an AhnLab alumnus. Sunny Electronics has even issued a denial disclosure stating that it has no business relation with former leader Ahn Cheol-soo, but it is still classified as a related stock.