[Special Stocks] Green Chemical, Huchems, and Related Stocks Stirred by 'Carbon Neutrality Declaration'

[Asia Economy Reporter Minji Lee] Following President Moon Jae-in's strong commitment to advancing 'carbon neutrality,' related stocks are showing an upward trend.

[Image source=Yonhap News]

As of 9:20 a.m. on the 11th, according to the Korea Exchange, Green Chemical traded at 7,930 KRW, up 20.45% from the previous trading day in the KOSPI market. Huchems also traded at 25,250 KRW, up 5.88% from the previous trading day.

This is presumed to be a response to President Moon's declaration of the '2050 Carbon Neutrality Vision' the previous afternoon, in which he pledged to vigorously promote carbon neutrality across all sectors of industry, economy, and society. On that day, President Moon stated, "We will shift renewable energy to the main energy supply source and foster three new energy industries: renewable energy, hydrogen, and energy IT."

Huchems, a chemical affiliate of the Taekwang Industrial Group, obtained certification for 1 million tons of carbon emission rights (CER) from the United Nations (UN) in July last year. Green Chemical developed Carbon Capture and Utilization (CCU) technology that produces carbon dioxide into high value-added materials through a national project.

In addition, eco-friendly (greenhouse gas) related stocks such as KC Cottrell (14.61%), Hansol Home Deco (9.05%), Hwasung (5.5%), and Ecobio (4.06%) also recorded gains.