[Featured Stock] Daesin Information & Communication Rises on Support from Former Lawmaker Yoo Seung-min

[Image source=Yonhap News]

[Asia Economy Reporter Junho Hwang] On the 10th, Daishin Information & Communication showed a strong performance in the stock market.

On this day, Daishin Information & Communication was trading at 1,405 KRW, up 13.31% from the previous day. Various reasons have been cited for the rise in the stock price of this company.

First, the news that former People Power Party lawmaker Yoo Seung-min ranked first in the party's next leader suitability survey heated up the stock price. This company focuses on developing and manufacturing industrial PDAs, financial and IoT solutions, and other IT products and services, and seemingly has no direct relation to former lawmaker Yoo. However, because CEO Lee Jae-won of this company is an alumnus of the University of Wisconsin along with former lawmaker Yoo, it has been classified as a Yoo Seung-min-related stock, and the stock price has risen alongside Yoo's increasing support.

On the morning of the same day, polling firm Hangil Research announced the results of a survey conducted from the 6th to the 8th among 1,006 voters nationwide on the 'People Power Party next leader suitability.' Former lawmaker Yoo Seung-min recorded 23.0%, ranking first. Representative Lee Jun-seok came in second with 16.5%, followed by lawmaker Ahn Cheol-soo (13.4%), former lawmaker Na Kyung-won (10.4%), and lawmaker Joo Ho-young (5.9%).

Additionally, the news that mobile financial service company 'Toss (Viva Republica)' successfully raised 295.8 billion KRW in new investment also had a positive impact on this stock price. Daishin Information & Communication holds a 2.14% stake in Toss Bank.

However, the stock prices of early Toss investors such as Daol Investment (-1.05%), Daol Securities (-1.46%), NBT (-3.00%), E-World (-0.75%), and Hana Financial Group (-0.51%) all declined, suggesting that the political theme had a greater effect.