[Featured Stock] Yoon Seok-yeol Elected, Related Stocks Surge... Shinwon Comprehensive Development Hits Upper Limit

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Shinwon General Development surged to the daily price limit on the 10th following the news of Yoon Seok-yeol, the People Power Party candidate, winning the presidential election.

Shinwon General Development was trading at 9,230 won as of 10:08 a.m., up 30.00% (2,130 won) compared to the previous day. After the results of the 20th presidential election count showed Yoon's comeback victory, the stock surged from the market opening.

Shinwon General Development has been considered a Yoon Seok-yeol-related stock because its CEO and major shareholder Woo Jin-ho and outside director Jang Yong-seok are alumni of Seoul National University Law School, the same as former Prosecutor General Yoon.

Moreover, Yoon, during his presidential campaign, pledged to expand housing supply, leading most other construction stocks to rise on the day. Sambutogeon rose more than 20%, and Camu E&C recorded an increase of around 14%.

Other Yoon-related stocks also showed a unified upward trend on the day. NE Neungyul started up 13.38% compared to the previous trading day and was recording a rise of around 9% as of 10:22 a.m. NE Neungyul is classified as a theme stock because its largest shareholder, Chairman Yoon Ho-jung, belongs to the same Papyeong Yoon clan as Yoon Seok-yeol.

Additionally, stocks grouped as related due to academic or regional ties with Yoon, such as Seoyeon (3.53%), Woongjin (6.61%), Noroo Paint (3.72%), and Noroo Holdings (1.69%), were also rising. Noroo Holdings was classified as a theme stock after it was revealed that its subsidiary, Noroo Paint, sponsored Kobana Contents, operated by Yoon Seok-yeol’s wife, Kim Geon-hee.