[Featured Stock] Kumho Petrochemical, Management Dispute Amid Earnings Expectations... 52-Week High

[Asia Economy Reporter Ji Yeon-jin] Kumho Petrochemical surged sharply from the early trading session on the 5th, setting a new 52-week high.

Kumho Petrochemical traded at 290,000 KRW in the morning, marking a 52-week high. It then retreated slightly and was trading flat compared to the previous day at 9:55 AM.

The company is expected to exceed an average monthly operating profit of 100 billion KRW this year. This is due to the anticipated increase in volume and price improvement of high value-added products such as NB latex, amid a renewed decline in major raw material prices.

Additionally, last month, Park Cheol-hwan, Executive Director of Kumho Petrochemical, sent a shareholder proposal demanding an expansion of dividends along with a replacement of the board members, sparking a management dispute that caused the stock price to surge.

Hyun-ryeol Cho, an analyst at Samsung Securities, said, "The management dispute occurring during the period of record-high profits is expected to lead to maximization of shareholder value and stock price revaluation," adding, "The stock momentum will be stronger until March, when the first vote battle is expected to take place."