[Featured Stock] Serim B&G Hits Intraday Limit... Why Are Plastic Stocks Rising?

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Plastic manufacturers are showing a unified upward trend on the 10th. The news that the government has decided to allow pyrolysis recycling of waste plastics as one of its national agenda items appears to be a positive factor.

Serim B&G recorded 3,170 KRW, up 29.97% (730 KRW) compared to the previous day within about 20 minutes of market opening, and continues to trade at the upper limit. The company is engaged in the business of manufacturing and selling plastic containers for food packaging using vacuum forming technology and biodegradable films made from eco-friendly biodegradable materials.

Engineering plastic manufacturer Spolitec is also rising more than 20% during the session, and plastic sales company Sewoo Global is recording an increase of over 8%.

Earlier, among the 110 national agenda items announced by the Yoon Seok-yeol administration, the Ministry of Industry and the Ministry of Environment each established standards related to biodegradable plastics (PLA) and included provisions to allow pyrolysis recycling of waste plastics.