[Featured Stock] DB HiTek Up 15% on Strong Demand... Impact of Gangseongbu Fund

DB HiTek is showing strong performance. This is attributed to the domestic activist fund KCGI, led by CEO Kang Sung-bu, acquiring shares of DB HiTek.

As of 9:24 AM on the 31st, DB HiTek is trading at 70,300 won, up 15.06% from the previous trading day.

Earlier, KCGI announced that it had acquired a 7.05% stake in DB HiTek through its investment purpose company, Caropy Holdings. Caropy Holdings, under KCGI, disclosed that it secured 3,128,300 shares of DB HiTek through on-market purchases on the same day. The purpose of holding the shares was disclosed as "influence on management rights."

KCGI stated, "DB HiTek's corporate value is extremely undervalued compared to its future growth potential and competitive position based on its excellent market standing," and demanded the company to conduct treasury stock cancellation and establish an independent board of directors.