[Featured Stock] MH Ethanol Highlights Jinhae Ocean Resort

On the 26th, the KOSPI opened at 3,151.30, up 4.49 points (0.14%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. On the same day, the won-dollar exchange rate opened at 1,165.0 won, down 3.1 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Hwang Junho] As a poll showed that People Power Party lawmaker Hong Jun-pyo has surpassed former Prosecutor General Yoon Seok-yeol for the first time in opposition presidential candidate approval ratings, MH Ethanol is gaining strength.

As of 9:58 a.m. on the 7th, MH Ethanol is up 29.57%, trading at 10,750 won.

MH Ethanol's rise is attributed to renewed attention on the Jinhae Ungdong complex resort project, a key initiative promoted by Hong when he was governor of Gyeongnam Province. MH Ethanol is the largest shareholder of Jinhae Ocean Resort.

According to an R&Search poll commissioned by Gyeonggi Newspaper conducted nationwide from the 3rd to 4th among 1,017 people aged 18 and older, Hong recorded a 32.5% approval rating for the People Power Party presidential candidate suitability, narrowly leading former Prosecutor General Yoon (29.1%) within the margin of error, placing first.

During his tenure as a Gyeongnam Provincial Assembly member, Hong made attracting a 'global theme park' to Ungdong, Jinhae-gu, Changwon City a core pledge, promoting the development of a complex leisure tourism complex through private investor investment (Build Operate Transfer), and even signed a memorandum of understanding with the U.S. Fox company.

However, the Ministry of Culture, Sports and Tourism did not select the Jinhae Global Theme Park in the new complex resort operator recruitment, causing the project to be scrapped. Currently, only the Ungdong District (District 1) has been developed as part of a private investment development project (BOT), operating a 36-hole public golf course run by Jinhae Ocean Resort. Jinhae Ocean Resort is led by CEO Choi Jeong-ho, the fourth son of Choi Wi-seung, honorary chairman and founder of the liquor manufacturer Muhak. MH Ethanol holds a 60.48% stake, making it the largest shareholder.