[Asia Economy Reporter Hyunseok Yoo] BioGenetics recorded a limit-up. This appears to be influenced by concerns over condom shortages due to the recent impact of the novel coronavirus infection (COVID-19).
As of 9:14 AM on the 30th, BioGenetics was trading at 4,990 KRW, up 29.95% (1,150 KRW) compared to the previous trading day.
According to foreign media on the 27th (local time), the world's largest condom manufacturer, Karex, halted operations at its three factories in Malaysia due to movement restrictions, signaling a red alert. It was reported that disruptions to global condom production are inevitable.
Amid global concerns over condom shortages, BioGenetics is gaining attention again. BioGenetics started manufacturing and selling sanitary and medical rubber products in 1973 and is currently known as the number one condom manufacturer in Korea. Its former name was Unidus. In addition to condoms, it imports latex gloves to supply the domestic market as an alternative and creates specific demand through superior quality control.
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