[Special Stock] Ujeong Bio Rises Amid Ongoing COVID-19 Concerns

Government Expansion of Negative Pressure Hospital Rooms and Supplementary Budget Formation Also Positive Factors

[Asia Economy Reporter Minwoo Lee] As concerns about the novel coronavirus infection (COVID-19) continue to spread, the stock price of Woojeong Bio, a company specializing in infection control, is on the rise.

According to the Korea Exchange on the 4th, as of 9:40 a.m., Woojeong Bio's stock price is trading at 9,040 won, up 8% from the previous day. The fact that the company has secured technology in the field of infectious disease medical support, from spatial disinfection to negative pressure rooms, appears to be a positive factor.

In particular, the demand for spatial disinfection in medical facilities has significantly increased due to the surge in patients. Previously, Woojeong Bio recorded sales of 4.234 billion won and 5.824 billion won in the spatial disinfection work and equipment sectors using hydrogen peroxide vapor (HPV) in 2016-2017, following the outbreak of Middle East Respiratory Syndrome (MERS).

Meanwhile, as of the previous day, the number of confirmed COVID-19 cases in South Korea was 5,186. It has been 43 days since the first confirmed case was reported in the country on January 20. The number of deaths was identified as 31.

The government plans to hold an emergency cabinet meeting chaired by Prime Minister Chung Sye-kyun on the morning of the same day to approve a supplementary budget bill for COVID-19 response. This supplementary budget includes costs for expanding negative pressure rooms, negative pressure ambulances, testing and analysis equipment, compensation for medical institutions' losses due to government quarantine measures, loan funds for business stabilization, living support expenses for hospitalized and quarantined individuals, and emergency business stabilization funds for small business owners and small and medium-sized enterprises.