[Featured Stock] Ahn, Defeated in People Power Party Leadership Race... AhnLab Down 12%

[Asia Economy Reporter Kwon Jae-hee] AhnLab's stock price is plummeting more than 10% in early trading. This is interpreted as the impact of candidate Ahn Cheol-soo's challenge for the leadership of the People Power Party, which ultimately ended in defeat.

As of 10:05 a.m. on the 9th, AhnLab is trading at 64,800 KRW on the KOSDAQ market, down 12.08% from the previous trading day.

Kim Ki-hyun, elected as the leader of the People Power Party, is shaking hands with Ahn Cheol-soo at the 3rd Party Convention held on the 8th at KINTEX in Goyang-si, Gyeonggi Province. Photo by Kim Hyun-min kimhyun81@

In the 3rd People Power Party convention held the day before, candidate Ahn ranked second with 23.37% of the votes, failing to advance to the runoff. The first place was Representative Kim Ki-hyun with 52.93%. Candidate Ahn's vote share was less than half of Representative Kim's, leading to analysis that candidate Ahn suffered a critical blow in this convention.

Before the People Power Party convention, expectations for candidate Ahn's election as party leader caused AhnLab's stock to soar to the 100,000 KRW range, but the stock price plunged as support rates declined in subsequent polls. Additionally, conflicts with the pro-Yoon faction surfaced, casting a shadow over the prospects of winning the party leadership, which also led the stock price downward.