[Featured Stock] Dongbang, KCTC Coupang Effect... Logistics Highlighted Amid 4th COVID Wave Concerns

[Asia Economy Reporter Minwoo Lee] As concerns over the resurgence of COVID-19 grow, stocks of logistics companies related to the online retailer Coupang are showing strong performance.

As of 10:43 AM on the 14th, Dongbang recorded 6,950 KRW, up 12.66% from the previous day. KCTC also rose 7.92% to 6,540 KRW. Dongbang is Coupang's dedicated logistics transportation company, and KCTC is partnered with Coupang for logistics warehouse operations.

With expectations that Coupang usage will increase due to concerns over the COVID-19 resurgence, buying interest has returned to logistics stocks. According to the Central Disease Control Headquarters, as of midnight on the same day, the number of new domestic COVID-19 cases was 731, an increase of 189 from the previous day (542). This marks a return to the 700s after six days.

Kwon Deok-cheol, the 1st Deputy Head of the Central Disaster and Safety Countermeasures Headquarters and Minister of Health and Welfare, stated in his opening remarks at the Central Disaster and Safety Countermeasures Headquarters meeting held at the Government Sejong Complex, "Since mid-January until March, the number of confirmed cases remained steady at 300 to 400, but this month it has rapidly increased to 500 to 600, and today it has surged to the 700s. Efforts to strengthen quarantine measures will show results in at least a week, but since the number of confirmed cases has already exceeded 700, we are in a situation where we must consider not only strengthening operating hour restrictions for multi-use facilities but also raising the social distancing level."