[Featured Stock] Kumho Petrochemical Faces Management Dispute Concerns with IS Dongseo... 52-Week High

[Asia Economy Reporter Park Jihwan] On the 26th, Kumho Petrochemical is showing a sharp rise in the early trading session amid news that it may become embroiled in a management rights dispute with the mid-sized construction company IS Dongseo.

As of 10:23 a.m. that day, Kumho Petrochemical was trading at 205,000 KRW, up 8,500 KRW (4.33%) from the previous trading day. In particular, in the early session, it traded at 213,500 KRW, up 8.65% from the previous day, setting a new 52-week high.

The recent strong trend in Kumho Petrochemical's stock price is analyzed to be influenced by news that the construction company IS Dongseo is accumulating shares of Kumho Petrochemical. When a management rights dispute issue arises, it is common for the number of circulating shares to decrease, causing the stock price to rise.