[Featured Stock] The Power of 'Coupang IPO' Shaking the Korean Stock Market... Partner Companies Rise for Two Consecutive Days

[Asia Economy Reporter Ji Yeon-jin] Following Coupang's announcement of its U.S. stock market listing, companies trading with Coupang in the domestic stock market are showing a sharp rise.

KCTC, Coupang's logistics partner, is trading at 7,990 KRW, up 29.92% (1,840 KRW) from the previous day immediately after the market opened on the 16th. The company also hit the daily limit price the day before.

KTH closed the previous day at the daily limit price and reached a 52-week high of 15,600 KRW on the same day. Daeyoung Packaging, a corrugated cardboard company, is trading at 2,860 KRW as of 11:16 a.m., up 20.46%. This is analyzed as reflecting expectations of benefiting from the increase in Coupang's delivery volume.

Seoul Food also surged up to the daily price limit of 29.95% during the day, interpreted as a rise in stock price because it is a company that produces Coupang's own food brand. Seoul Food supplies GomGom Combination Pizza, GomGom Clay Cookie, GomGom Whole Wheat Gorgonzola Pizza, and GomGom New Clay Cookie to Coupang.

Earlier, Coupang announced that on the 12th during the Lunar New Year holiday (local time), it submitted a registration statement in Form S-1 to the U.S. Securities and Exchange Commission (SEC) for the listing of Class A common stock.