[Asia Economy Reporter Lee Seon-ae] As this summer's heat is forecasted to be the worst heatwave, Taekyung Chemical, the leading domestic company in market share for liquid carbon dioxide and dry ice, is showing strong stock performance. It is believed that buying demand is flowing in due to expectations of increased earnings from rising demand.
On the 16th, Taekyung Chemical was trading at 20,600 KRW as of 10:34 AM, up 5.10% compared to the previous trading day. The stock price rose to 20,750 KRW in early trading.
Taekyung Chemical is the number one company in the domestic carbon dioxide gas market, holding a 40% market share in dry ice and liquid carbon dioxide. Its domestic market share is 27% for liquid carbon dioxide and 37% for dry ice. The main product, liquid carbon dioxide, is used industrially (shipbuilding, welding) and for food purposes, while dry ice is used for food storage. The company also produces other industrial gases such as ethylene, nitrogen, oxygen, and argon.
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