Daesang Holdings Preferred Shares (Daesang Holdings Woo) recorded the upper price limit for five consecutive trading days, eventually leading to a suspension of trading. Daesang Holdings was classified as a 'Han Dong-hoon theme stock' as Minister of Justice Han Dong-hoon and actor Lee Jung-jae are known to be friends. Lee Jung-jae and Im Se-ryeong, Vice Chairman of Daesang Group, are known to have been long-term partners.
The Korea Exchange announced on the 1st that trading of Daesang Holdings Woo will be suspended starting on the 4th. This is due to the stock price soaring more than 40% over two trading days following its designation as a warning investment item.
On that day, Daesang Holdings Woo closed at 28,400 KRW on the Korea Composite Stock Price Index market, up 29.98%, the maximum allowed price increase, compared to the previous trading day. This marked the fifth consecutive trading day that Daesang Holdings Woo hit the upper price limit since closing at the upper limit on the 27th of last month.
Earlier, the Korea Exchange requested Daesang Holdings to disclose information regarding the significant market fluctuations. Daesang Holdings responded that "Although our stock has recently been mentioned as a political theme stock, it is unrelated to the company's past and current business operations."
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