[Featured Stock] Spring Breeze in Automobiles... Sedong Hits Upper Limit with Return to Profitability

On the 16th, the interior of Hyundai Motor Company's 'The New Palisade' was unveiled at Loop Station Ikseon in Jongno-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Ji Yeon-jin] Automotive parts company Saedong's stock price surged to the daily limit on the 17th. Following solid performances by automakers such as Hyundai Motor and Kia despite raw material supply difficulties, Saedong's first-quarter earnings also turned profitable, boosting market expectations and driving the stock price upward.

On that day, Saedong was traded at 1,520 KRW, up 29.91% (350 KRW) from the previous day, starting 27 minutes after the opening of the KOSDAQ market.

The company manufactures door belts, moldings, and extrusions, with major clients including Hyundai Motor, Kia, Korea GM, and Ssangyong Motor.

According to the first-quarter report released the previous day, sales reached 34.7 billion KRW, an 18.03% increase compared to the same period last year, and operating profit turned positive at 2.7 billion KRW.