[Featured Stocks] EDTI, EID and Other Russian Vaccine-Related Stocks Rise on News of Local Governments' Autonomous Vaccine Selection

[Asia Economy Reporter Minwoo Lee] Stocks related to Russian COVID-19 vaccines, such as EDT and EID, are showing strong performance. This appears to be due to increased expectations for the introduction of Russian vaccines following news that President Moon Jae-in will allow local governments to autonomously select vaccines.

As of 2:55 PM on the 21st, EID's stock price rose 18% from the previous day to 413 won. At the same time, EDT's stock price also increased by 4.38% to 1,310 won.

It seems that the positive news came from President Moon Jae-in emphasizing the need for changes in the vaccination method to strengthen local government autonomy during a lunch meeting at the Blue House Sangchunjae with Oh Se-hoon, mayor of Seoul from the People Power Party, and Park Hyung-joon, mayor of Busan. On that day, President Moon reportedly stated, "Currently, the KDCA sets the quantity and notifies local governments, which slows down the process, but we plan to change it so that local governments autonomously select vaccines while the quarantine authorities supply the quantities." Accordingly, expectations for the introduction of Russian COVID-19 vaccines have increased.

According to the Financial Supervisory Service's electronic disclosure system, EDT is an affiliate of Etron and EID, which made equity investments through an investment association in Korea Corus, a company entrusted with the production of Russia's COVID-19 vaccine 'Sputnik V,' last December.