[Featured Stock] HanmiGlobal Rises on Spotlight of Saudi NEOM City

[Asia Economy Reporter Hwang Junho] HanmiGlobal is showing strong performance in the stock market on the 14th.

As of 10:22 AM, HanmiGlobal's stock price is up 11.09% from the previous close, trading at 30,550 KRW.

The rise is attributed to HanmiGlobal winning the special overall program management (e-PMO) contract for 'NEOM The Line,' one of the 'NEOM City Project' future city projects in Saudi Arabia last year.

HanmiGlobal will be responsible for establishing the management and operation structure, project resource management, internal management related to development and design, timely supervision of client instructions, and establishing project data storage and management plans for the 'NEOM The Line' project over two years until May next year.

Saudi Arabia is promoting the 'NEOM City' project, which involves building a future city covering 26,500 km² near the Red Sea in the northwest, an area 44 times the size of Seoul. This project is led by Crown Prince Mohammed bin Salman, the de facto ruler of Saudi Arabia, with a total construction cost of 500 billion USD (approximately 650 trillion KRW).