[Featured Stock] "Export of Korean-style Smart City"... OmniSystem Rises Alone in a Bear Market

[Asia Economy Reporter Ji Yeon-jin] Amid ongoing weakness in the domestic stock market due to concerns over a U.S. economic recession, Omni System has been on a five-day consecutive rising rally. This is expected to benefit Omni System, a related stock, following news that the government-led 'Korean-style Smart City' is being exported to 11 countries.

As of 11:34 AM on the 30th, Omni System is trading at 2,565 KRW, up 3.01% from the previous day. This stock has recorded a rising trend for five consecutive trading days since the 24th.

Earlier, the Ministry of Land, Infrastructure and Transport, the Korea Overseas Infrastructure & Urban Development Corporation, and the Korea Agency for Infrastructure Technology Advancement announced on the 23rd that they had selected projects from a total of 11 countries through the 'K-City Network Global Cooperation Program' public offering.

The selected projects include four countries for urban development type, four countries for solution-type planning, and three countries for solution-type overseas demonstration. By region, there are three projects in the New Southern and New Northern regions, and five others (two in Europe, and one each in North America, South America, and Africa).

Omni System is classified as a smart city-related stock and is one of the stocks related to the Smart Green Industrial Complex project, which is part of the Korean New Deal initiative promoted by the government.

Omni System, the first KOSDAQ-listed company in Korea to produce digital electricity meters, is known to possess core technologies such as electronic circuit design and precise calibration technology for flow measurement, and mainly produces smart meters (remote metering systems).