[Featured Stock] Panstar Enterprise Gains on Highlighted Direct Supply of Travel Products to Coupang

[Asia Economy Reporter Minwoo Lee] Panstar Enterprise's stock price is on the rise. The news that it directly supplies travel products to Coupang, which is scheduled to be listed on the U.S. stock market, has highlighted it as a beneficiary stock.

As of 10:22 AM on the 15th, Panstar Enterprise's stock price recorded 817 won, up 10.11% compared to the previous trading day. The news that it directly supplies travel products to Coupang appears to have acted as a positive factor.

Since Panstar Group, the first national cruise line company, acquired Panstar Enterprise in 2015, it has expanded its business areas to include national cruise ship operations, travel, shipping, and large shipbuilding. Earlier in 2018, it also signed a cabin sales contract with Costa Cruises, a subsidiary of Carnival Cruise Group, the world's largest cruise line company.

According to the Financial Supervisory Service's electronic disclosure system, Panstar Enterprise stated in its business report posted on the 29th, "As a measure to diversify sales channels, in addition to our own sales activities, we have introduced sales through travel agencies, social commerce, and direct transactions. To enhance customer product promotion, we are also conducting direct transactions with Korea's leading social commerce companies, Coupang and Tmon."

Meanwhile, Coupang submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) on the 12th (local time) for listing on the New York Stock Exchange (NYSE). It is expected to be listed on the New York Stock Exchange as early as next month.