[Special Stock] Seongchang Enterprise Holdings Rises on News of Yoon Government Lifting Greenbelt After 52 Years

Sungchang Enterprise Holdings is showing strong performance. This is interpreted as being influenced by news that President Yoon Suk-yeol will announce a significant plan to lift development restrictions on greenbelt areas next week.

As of 9:16 a.m. on the 29th, Sungchang Enterprise Holdings is trading at 1,988 KRW, up 3.11% compared to the previous day.

According to a media report, a senior ruling party official stated that President Yoon will directly deliver a message regarding greenbelt improvements as part of measures to revitalize regional investment. The easing of greenbelt regulations is the first in 8 years and 6 months since May 2015 during the Park Geun-hye administration.

According to the Presidential Office and others, under the principle of "lifting restrictions with principles, only as much as necessary," the government is preparing institutional improvements related to the greenbelt, including ▲allowing greenbelt lifting for environmental evaluation grade 1 and 2 areas in national and public development projects ▲applying exceptions to the total allowable greenbelt lifting for national strategic projects and regional issue projects ▲introducing a fast-track (rapid investigation) system for greenbelt lifting.

First, when promoting development projects recognized for their public nature, such as national and public development projects, the government is strongly considering allowing the lifting of development restrictions on greenbelt areas even if they are environmental evaluation grade 1 or 2 areas. Until now, grade 1 and 2 areas, which have high conservation value, were not allowed to be lifted from development restrictions.

Meanwhile, Sungchang Enterprise Holdings is classified as a beneficiary of the greenbelt regulation easing due to its project to develop the Jangseungpo Recreation Area on Geoje Island. Sungchang Enterprise Holdings announced that it will extend the project completion period for the Jangseungpo Recreation Area development from December 31, last year, to December 29, 2024, extending it by two years.