[Special Stock] 'Turned Profitable' Woori Technology Investment Hits 52-Week High

52-Week High Reached in One Month
Operating Profit Turns Positive After One Year
Virtual Asset Boom Also Acts as a Positive Factor

Woori Technology Investment surpassed its 52-week high during trading. This is interpreted as being influenced by news of a return to profitability.

As of 10:05 AM on the 15th, Woori Technology Investment is trading at 8,050 KRW, up 19.08% (1,290 KRW) from the previous day. It surpassed the 52-week high of 8,020 KRW recorded on January 11. The stock price of Woori Technology Investment, which opened at 7,340 KRW, up 8.58% from the previous day, continued to rise steadily from the early session and reached a 52-week high.

Woori Technology Investment announced just before the market closed the previous day that its operating profit on a consolidated basis for 2023 was 153.9 billion KRW. This marks a successful return to profitability after one year. Sales amounted to 170.7 billion KRW. After posting an operating profit of 792.7 billion KRW in 2021, Woori Technology Investment recorded an operating loss of 430.9 billion KRW the following year, turning to a deficit. Due to the deterioration in performance, the stock price also plummeted. The stock price of Woori Technology Investment, which recorded an all-time high of 13,550 KRW in April 2021, fell to as low as 3,005 KRW in October 2023.

Recently, the boom in virtual assets also appears to be having a positive impact on Woori Technology Investment. Woori Technology Investment holds a 7.24% stake in Dunamu, which operates Upbit, the largest virtual asset exchange in Korea. This constitutes a significant portion of Woori Technology Investment’s financial assets. Bitcoin, the 'leader' of virtual assets, surpassed 50,000 USD for the first time in 26 months on the 12th and continues its upward rally. On the 15th, it surpassed the 52,000 USD mark. The virtual asset industry believes that related funds are flowing in following the approval of spot exchange-traded funds (ETFs).