[Featured Stock] Silicon Two Rises on News of Acquiring US Logistics Center

Silicon Two is surging on the news that it acquired a logistics center in the United States on the 2nd. As a result, it surpassed 40,000 won for the first time in six trading days.

At 9:11 a.m., Silicon Two was trading at 41,250 won, up 6.87% (2,650 won) from the previous trading day.

Silicon Two announced last weekend that it acquired a logistics center worth approximately 70 billion won in the United States to strengthen its North American business. Silicon Two's U.S. subsidiary, Stylekorean Inc., purchased two buildings located at 5530 Beach Boulevard and 5609 River Way in Buena Park, California, for a total of 53.3 million dollars (about 70.9 billion won). Beach Boulevard will be used as a new office, and River Way will be operated as a large-scale logistics center.

The company stated, "The investment in the logistics center will make supply chain operations more efficient," and added, "As the efficiency of cosmetic inventory distribution improves, sales are expected to grow rapidly."