[Featured Stock] KTcs, Synergy Expected with Hyundai Motor, KT's Largest Shareholder... Stock Price Up

The stock price of KTcs, a subsidiary of KT's customer service division, is showing an increase of over 5%. Expectations for business synergy with Hyundai Motor, which has become KT's largest shareholder, have risen.

As of 10:54 AM on the 10th, KTcs's stock was trading at 3,200 KRW, up 5.26% from the previous day's closing price. During the session, it briefly touched 3,300 KRW before fluctuating.

Since Hyundai Motor became KT's largest shareholder last month, KTcs's stock price has surged intraday and then adjusted. It rose 14% on the 19th of last month and 8.47% on the 27th. On the 30th, it increased by 22.24% before giving back some gains and closing up 5.94%.

The rise in KTcs's stock price today is interpreted to be influenced by remarks made by Kim Heung-su, Vice Chairman of Hyundai Motor, who appeared at the National Assembly audit and spoke about strengthening business partnerships with KT.

Vice Chairman Kim explained, "Hyundai Motor becoming KT's largest shareholder was the result of an involuntary decision caused by the National Pension Service, the previous largest shareholder, partially disposing of its shares."

He added, "The mutual equity investment was made solely to strengthen the execution and continuity of the business partnership (with KT)," and stated, "Becoming KT's largest shareholder does not mean we intend to intervene in KT's management."