Baeksan's stock price is on the rise. Expectations that the strong performance in the footwear sector will continue appear to be influencing the stock price.
As of 9:54 a.m. on the 26th, Baeksan is trading at 16,520 KRW, up 1.79% from the previous day. During the session, it rose to 16,900 KRW, marking a 52-week high.
Baeksan is a company that manufactures polyurethane synthetic leather used for sneaker uppers, and in addition to shoe uppers, it also produces automotive interior materials and IT product cases. Researcher Yoo Jeong-hyun of Daishin Securities noted, "Nike accounts for about 47% and Adidas about 35% of the sales proportion of customers in the main footwear division," adding, "The recent improvement in the front-end industry, starting with the previously sluggish Adidas, is driving performance improvement."
Furthermore, Researcher Yoo mentioned Baeksan's efforts to enhance shareholder value. He said, "Since 2022 and through the first half of this year, the company has repurchased and canceled 27.3 million shares of treasury stock," adding, "There is a possibility of an additional repurchase and cancellation of 1.7 million shares over the next two years." He also added, "Such shareholder return policies are not only very positive for investor sentiment but will also significantly contribute to the revaluation of corporate value."
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