[Featured Stock] SG Chungbang Rises on Spotlighted Land Amid Seoul Greenbelt Release Discussions

[Asia Economy Reporter Minwoo Lee] SG Chungbang's stock price is on the rise. Expectations for the release of the Greenbelt in Seoul have increased, highlighting the fact that the company owns related land.

As of 2:10 PM on the 7th, SG Chungbang recorded 1,820 KRW, up 16.67% from the previous day. Discussions about the release of the Greenbelt in Seoul have emerged in political circles, and it appears to have been a positive factor that SG Segye Mulsan, an affiliate of the same SG Group, owns 640,000 square meters of Greenbelt land in Bongcheon-dong, Gwanak-gu, Seoul.

Earlier, the ruling party, the Democratic Party of Korea, stated in a conversation with a media outlet that President Moon Jae-in instructed to create housing supply measures, and within the party, options such as Greenbelt release and relocation of public facilities to local areas were proposed and are under consideration.

Following this news, the stock prices of SG affiliates generally showed an upward trend. SG Segye Mulsan, which owns the land, rose more than 18% to 850 KRW around 12:07 PM on the same day, then showed 755 KRW, up 4.6% from the previous day as of 2:10 PM. At the same time, SG&G (7.75%), SG (0.91%), and others also increased.