[Asia Economy Reporter Lee Seon-ae] With the confirmation of the Gyeonggi Province Governor-elect, PN Pungnyeon, linked as a 'Kim Dong-yeon theme stock,' surged sharply on the 2nd.
As of 9:36 a.m. on the day, PN Pungnyeon was trading at 5,580 KRW on the KOSDAQ market, up 20.13% from the previous trading day. Shortly after the market opened, it soared nearly 25% to 5,800 KRW.
PN Pungnyeon has been mentioned as a 'Kim Dong-yeon theme stock' because the company’s auditor, Choi Sang-hoon, is an alumnus of Deoksu Commercial High School and Kookje University along with Governor-elect Kim Dong-yeon.
Kim Dong-yeon, the Democratic Party candidate who ran for the 8th nationwide simultaneous local elections for Gyeonggi Province Governor, defeated Kim Eun-hye of the People Power Party and was finally elected. In the early stages of vote counting, candidate Kim Eun-hye was narrowly ahead, but Kim Dong-yeon first took the lead around 5:32 a.m. and confirmed his election around 7:04 a.m. on the same day.
Meanwhile, in the elections for 17 metropolitan and provincial governors, the People Power Party secured 12 seats, and the Democratic Party secured 5 seats. Kim Dong-yeon became the only opposition party metropolitan/provincial governor in the Seoul metropolitan area.
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