Ilseong Construction Soars 424.56%
KOSPI Records Highest Annual Return This Year
[Asia Economy Reporter Ji Yeon-jin] The stock with the highest return in this year's KOSPI market was Ilseong Construction. It is a policy-themed stock of Lee Jae-myung, the Democratic Party presidential candidate, who recently advised, "Never buy it."
According to the Korea Exchange on the 28th, Ilseong Construction surged by 424.56% up to the previous day this year, recording the highest increase rate in KOSPI. It was followed by KEPCO Engineering & Construction (364.99%), Hyosung Advanced Materials (325.50%), Meritz Financial Group (317.43%), and Estaco (313.56%).
Ilseong Construction showed a sharp rise from April this year after Lee, who proposed a long-term public housing policy as a pledge, was spotlighted as a beneficiary stock. The stock price, which was slightly above 1,000 won at the beginning of the year, soared to 7,980 won on October 13, shortly after Lee was confirmed as the ruling party's presidential candidate. Since then, it has continued to weaken until recently.
Estaco, which is engaged in real estate sales business, was also considered a beneficiary stock of Lee's long-term public housing pledge, rising from the 600 won range at the beginning of the year to 7,550 won in June. However, as Estaco's stock price rose, the major shareholder disposed of shares, and it is currently trading in the 3,500 won range.
In the KOSDAQ market, Koiz (381.85%), which was mentioned as a related stock of Lee, ranked 11th in returns, making it the highest among political theme stocks. This return rate surpasses NE Neungyule (305.98%), which was considered a representative theme stock of Yoon Seok-youl, the People Power Party presidential candidate. Koiz was referred to as an 'Lee Jae-myung theme stock' because CEO Jo Jae-hyung is an alumnus of Chung-Ang University with Lee, and its stock price, which stayed at 1,300 won at the end of last year, surged to 7,500 won intraday on March 19 this year. In KOSPI, stocks related to Yoon, such as Deoksung (89.81%) and Woongjin (58.53%), have recently returned the gains they made after a sharp rise earlier this year.
Earlier, on the 25th, Lee advised in an interview with the economic YouTube channel ‘Sampro TV’ regarding his theme stocks, "Never buy them. They have nothing to do with me."
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