[Hot Stock] Dongil Rubber Belt Surges... Expectations for Ukraine Reconstruction

[Asia Economy Reporter Junho Hwang] On the 1st, despite the KOSPI falling below the 2300 level, the stock price of Dongil Rubber Belt is showing a sharp rise.

As of 2:55 PM on the same day, Dongil Rubber Belt is trading at 7,230 KRW, up 1,030 KRW (16.61%) from the previous close.

The rise is analyzed to be due to news that American companies are moving to participate in the reconstruction of Ukraine.

Andy Hunter, Chairman of the American Chamber of Commerce in Ukraine, stated through the economic media MarketWatch, "As the war in Ukraine approaches six months, American companies argue that they should invest in Ukraine now."

Dongil Rubber Belt has signed a supply contract worth 150 billion KRW with Caterpillar, the No.1 heavy equipment company in the United States, and plans to deliver by October 31 next year. It is analyzed that investors' interest is gathering in Dongil Rubber Belt due to the high possibility that Caterpillar's heavy equipment will also be deployed in the US investment for Ukraine's reconstruction.