[Asia Economy Reporter Ji Yeon-jin] Guyeong Tech is hitting the upper price limit on the 12th following the news of Hyundai Motor's selection of a U.S. electric vehicle factory site.
Guyeong Tech has been trading at 3,860 KRW, up 29.97% compared to the previous day, since 2:46 PM on the same day.
On this day, reports emerged that Chung Eui-sun, Chairman of Hyundai Motor Group, had departed for a business trip to the U.S. to select a site for an electric vehicle production plant, leading to strong gains from the market opening and further increases in the afternoon.
Chairman Chung is scheduled to attend the New York Auto Show, which opens on the 13th (local time), and there are expectations that Hyundai Motor Group will finalize the selection of the local electric vehicle production plant.
Guyeong Tech's main businesses include manufacturing and sales of automobile parts, manufacturing and sales of molds, and automobile-related trading, with major clients such as Hyundai Motor and Kia.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
