[Featured Stock] Chris F&C Declines on News of Fire at Icheon Logistics Center

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] Chris F&C is showing weakness in the market on the afternoon of the 23rd. This is interpreted as being affected by the news of a fire at a logistics warehouse in Icheon, Gyeonggi Province.

As of 3:12 PM on the same day, Chris F&C is trading at 38,900 KRW, down 7.16% (3,000 KRW) from the previous trading day.

According to the fire authorities, at around 11:40 AM on the 23rd, an unknown cause fire broke out at the company's logistics center in Majang-myeon, Icheon City. According to logistics center officials, 134 workers safely evacuated immediately after the fire, and no casualties have been confirmed so far.

It is understood that about 3 million golf apparel items were stored inside the logistics center where the fire occurred. Since there were many flammable materials inside the building, the flames spread rapidly and escalated into a large fire. The cause of the fire and the initial ignition point have not been disclosed.

The fire authorities issued a Level 1 response alert, which calls for the deployment of all personnel from the local fire station, at 11:56 AM, 16 minutes after the fire broke out. Currently, about 45 pieces of equipment including pump trucks and over 100 firefighters are engaged in firefighting operations.

The company announced the occurrence of the fire at the logistics warehouse through a disaster occurrence disclosure on the same day, stating, "We are currently investigating the cause and damage situation of the accident and will strive to minimize losses through prompt accident recovery and restoration."