[Asia Economy Reporter Minwoo Lee] Daechang Steel's stock price is on the rise. The news that the company's owned real estate was included in the military facility protection zone release and relaxation decided by the ruling party and government appears to have acted as a positive factor.
As of 10:14 AM on the 14th, Daechang Steel's stock price recorded 3,695 KRW, up 8.04% compared to the previous day. The news of the ruling party and government's decision to release and relax military facility protection zones seems to have had a positive effect.
On the same day, the Democratic Party of Korea and the government announced, "We have decided to release 9,053,894㎡ of military facility protection zones, which is 3.1 times the area of Yeouido." They also decided to relax 3,690,000㎡ of controlled protection zones to restricted protection zones.
Previously, construction of buildings was prohibited in controlled protection zones, but if relaxed to restricted protection zones, construction is possible after consultation with the military. The ruling party and government also classified about 34,260,000㎡ of areas with minor impact on military operations and decided to additionally entrust local governments with the obligation to consult with the military for development and other matters.
The areas include Paju, Goyang, Yangju, Gimpo, Ganghwa Island in Gyeonggi Province, and Cheorwon, Yeoncheon, Yanggu, Yangyang in Gangwon Province. Meanwhile, Daechang Steel is reported to own land worth approximately 40 billion KRW, including the Paju factory near the DMZ.
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