[Special Stock] Indonesia's Capital Relocation Accelerates... JC Chemical Highlights Benefits from Borneo Land

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] JC Chemical is showing strong performance during trading on the 18th as Indonesia's capital relocation has reportedly entered full swing.

As of 10:17 AM on the same day, JC Chemical was trading on the KOSDAQ market at 7,670 KRW, up 480 KRW (6.68%) compared to the previous day.

This is believed to be due to renewed expectations that JC Chemical, which owns land in the area, will benefit following the Korea Land and Housing Corporation (LH)'s announcement of domestic training for officials from the Indonesian capital relocation project division.

On this day, LH announced that it would conduct a training course titled "Smart City Planning and Implementation Expert Course" by inviting officials from the Indonesian Ministry of Public Works and Housing, the implementing agency of the Indonesian capital relocation project, until August 20.

LH plans to actively support Indonesia's successful capital relocation project by sharing South Korea's development cases of Sejong Administrative City and Innovation City, transferring central administrative functions concentrated in the metropolitan area, and passing on experiences of national balanced development that discovered and nurtured regional potential.

In 2012, JC Chemical acquired an oil palm plantation in Kutai Kartanegara Regency on Borneo Island, the site of Indonesia's capital relocation. The plantation, located in East Kalimantan, Indonesia, is known to cover about 10,000 hectares (ha), approximately 33 times the size of Yeouido.