[Featured Stock] Taewoong Rises on Space Industry Boom, Spotlight on US NASA and Tesla Space Shuttle Parts Supply

[Asia Economy Reporter Minwoo Lee] Taewoong's stock price is on the rise. Amid the spotlight on the space industry, it appears that the fact that the company was selected as a supplier of key components for space travel projects promoted by NASA, Tesla, and Amazon has been highlighted.

As of 11:07 AM on the 21st, Taewoong's stock price recorded 15,400 KRW, up 5.84% compared to the previous day. The spotlight on the space industry and news of related business activities seem to have acted as positive factors.

Asset management firm ARK, popular in the U.S. Exchange-Traded Fund (ETF) market, reportedly applied for approval from the U.S. Securities and Exchange Commission (SEC) on the 13th for a space-themed ETF. ARK has gained popularity since the end of last year with its active ETF management focused on "innovative growth," and this year, it is known to have attracted more funds since the beginning of the year than BlackRock, the world's largest asset manager.

Previously, metal processing company Taewoong announced on January 22 of last year that it had been selected as a supplier of key components for a space travel project promoted by NASA, Amazon, and Tesla.

Kencoa Aerospace, which is also engaged in related business, is showing strong performance. It recorded 12,750 KRW, up 9.91% compared to the previous day. It is known to have secured major U.S. space industry-related institutions and companies as clients, including NASA, SpaceX founded by Elon Musk, the founder of Tesla, and Blue Origin founded by Jeff Bezos, CEO of Amazon.