[Asia Economy Reporter Yoo Hyun-seok] JW Shinyak is showing strong performance. It appears that the announcement of Lee Jae-myung, the Democratic Party presidential candidate, regarding the inclusion of hair loss medication under health insurance coverage has had an impact.
As of 9:03 AM on the 5th, JW Shinyak was trading at 4,715 KRW, up 10.81% (460 KRW) compared to the previous trading day.
The day before, Choi Jong-yoon, a member of the National Assembly's Health and Welfare Committee from the Democratic Party, stated that candidate Lee is promoting this plan as part of his so-called 'Sohwakhaeng (small but certain happiness) pledge.'
In a Facebook post titled "For My Hair, Lee Jae-myung," he said, "Hair loss is a disease officially assigned a disease code, but hair loss treatment drugs are not covered by insurance," adding, "It is known that one in five people suffer from hair loss, but due to the burden of drug costs, many resort to overseas direct purchases or receive prescriptions for prostate medication containing the same ingredients as hair loss drugs through loopholes."
He continued, "Candidate Lee and the Democratic Party will do their best to guarantee Sohwakhaeng by reducing the drug cost burden for the ten million people suffering from hair loss."
According to the National Health Insurance Service, the domestic population suffering from hair loss is estimated to exceed 10 million. JW Shinyak currently sells hair loss treatments such as 'Monad Tablets,' 'Neodat Tablets,' and the topical hair loss treatment 'Rogaine Foam.'
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