Stock Prices Fluctuate When Mentioned as Prime Minister... Ban Ki-moon Stocks Also on a Rollercoaster

President-elect Yoon Suk-yeol is meeting with former UN Secretary-General Ban Ki-moon at his office in Tongui-dong, Jongno-gu, Seoul on the 18th of this month to hear Ban's views on recent international issues. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Lee Jung-yoon] As interest in the next Prime Minister appointment grows, stocks related to the mentioned candidates have shown significant volatility. Following Ahn Cheol-soo, Chairman of the Presidential Transition Committee, former UN Secretary-General Ban Ki-moon was reported to be among the candidate pool, causing related stocks to surge and plunge.

According to the Korea Exchange on the 26th, CCS soared by 26.07% during the trading session to 1,180 KRW compared to the previous day. However, it then sharply declined, closing down 5.24% at 887 KRW. On the 24th, it had hit the daily upper limit, closing at 936 KRW.

CCS, a cable broadcasting company, rose after media reports stated that former Secretary-General Ban was among the next Prime Minister candidates. CCS operates cable television services in the Chungbuk region, and since Ban’s hometown is Eumseong, Chungbuk, it was classified as a related stock.

On the 18th, former Secretary-General Ban met with President-elect Yoon Suk-yeol and had a conversation lasting about an hour. During the meeting, Ban emphasized the importance of the Korea-US alliance and climate change responses such as carbon neutrality. In his remarks, President-elect Yoon said, "Please help a lot," and added, "Since Korea does not have many excellent human resources, I will ask when I do not know something."

GENCO showed a surge followed by a decline due to news that Ban’s nephew serves as the CEO. On the 24th, GENCO rose 11.88% to 744 KRW, and the next day it rose 5.51% during the session but then reversed to close down 5.51% at 703 KRW.

Earlier this month, stocks related to Chairman Ahn surged. Ahn holds an 18.6% stake in AhnLab. If he becomes Prime Minister, he must place his AhnLab shares in a blind trust with a financial institution. Due to speculation about Ahn’s stock sale or hostile takeover possibilities, foreign investors’ buying surged, driving the stock price sharply up. AhnLab rose for five consecutive trading days starting from the 17th, with a cumulative increase of 100.91%. However, as foreign investors shifted to net selling, the stock quickly gave back its gains. Additionally, remarks by People Power Party lawmaker Kwon Seong-dong, stating that "Ahn will not serve as both transition committee chairman and Prime Minister," also appeared to have an impact.

This content was produced with the assistance of AI translation services.