[Asia Economy Reporter Minji Lee] As the third wave of the novel coronavirus infection (COVID-19) continues, cardboard-related stocks are showing an upward trend amid growing calls for raising social distancing to level 3 due to the surge in confirmed cases. This seems to reflect expectations that demand for delivery services may increase further as social distancing is strengthened.
As of 9:17 a.m. on the 16th, Youngpoong Paper was trading at 7,810 KRW, up 16.74% from the previous trading day. Other stocks such as Shinpung Paper (16.35%), Moorim Paper (7.29%), Taelim Packaging (6.18%), and Hanchang Paper (6.17%) are also showing gains. Corrugated cardboard manufacturers like Sambopanji (3.02%), Asia Paper (2.56%), Daeyang Paper (2.13%), and Daerim Paper (1.53%) are also on the rise.
On the same day, Prime Minister Chung Sye-kyun said at the Central Disaster and Safety Countermeasures Headquarters (CDSCH) meeting held at Seoul City Hall, "The government is making every effort to properly implement the current social distancing level, but depending on the situation, we cannot rule out the decision to raise it to level 3, which is the last resort."
Meanwhile, the number of new confirmed cases announced at midnight on the same day reached a record high of 1,078. Among them, 1,054 cases were reported in the local community.
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