[Featured Stock] Castec Korea Hits Upper Limit on Expectations as Apple Supplier Beneficiary

[Asia Economy Reporter Ji Yeon-jin] Castec Korea hit the upper price limit during trading on the 13th amid expectations of benefiting from the Apple Car.

Castec Korea was traded at 4,355 won, up 30% from the previous day, starting around 9:04 a.m. that day. Although it slightly declined afterward, it has been trading again at the daily price limit since 9:44 a.m.

Castec Korea supplies electric vehicle motor parts to LG Electronics. LG Electronics and Canadian auto parts company Magna jointly launched 'LG Magna e-Powertrain' (LG Magna), which is expected to produce electric vehicle motors and inverters (power conversion devices) and supply them to electric vehicle manufacturers, leading Castec Korea to be considered a beneficiary stock of Apple Car parts.