[Asia Economy Reporter Hyungsoo Park] Ajin Industrial is showing strength. It appears that the mention of Seo Jungho, CEO of Ajin Industrial, by Faustin-Archange Touad?ra, President of the Central African Republic, who met with President Yoon Suk-yeol, has also influenced the stock price.
At 10:26 a.m. on the 12th, Ajin Industrial was trading at 3,295 KRW, up 3.94% from the previous day.
The day before, President Yoon Suk-yeol met with President Faustin-Archange Touad?ra at the reception room on the 5th floor of the Yongsan Presidential Office building. President Yoon said, "I hope the Central African Republic will become more stable under the leadership of President Faustin-Archange Touad?ra." President Touad?ra was invited to South Korea to attend President Yoon’s inauguration ceremony held at the National Assembly on the 10th.
President Yoon continued, "Korea and the Central African Republic established diplomatic relations in 1963 and have maintained a very good friendly relationship to this day," adding, "Our country has played a role in the economy and development of the Central African Republic through development cooperation projects."
In response, President Touad?ra said, "This is a historic moment for the people of Korea and the Central African Republic," adding, "Thanks to the role of Seo Jungho, CEO of Ajin Industrial, I believe the cooperative relationship between the two countries is further developing in the economic sector."
Since 2017, CEO Seo has supported the Central African Republic with vehicles, daily necessities, and restoration costs on a humanitarian basis. For this contribution, he was awarded a medal by President Touad?ra. The Central African Republic is known to be rich in underground resources such as gold and uranium. Given the government’s promotion of the nuclear power industry, strengthening trade with the Central African Republic is also anticipated.
President Touad?ra also met with Prime Minister Kim Boo-kyum. It is reported that they agreed that combining the Central African Republic’s abundant natural resources with Korea’s world-class engineering technology could create a synergistic effect in the resource development sector.
Ajin Industrial is an auto parts company that has secured core technology for forming and joining magnesium alloy sheets. It also holds patents for press devices for magnesium alloy sheets and their press processing methods. Magnesium steel sheets weigh only about 25% compared to steel sheets, making them one of the key materials for automotive lightweighting.
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