[Featured Stock] Korea Gas Corporation Plummets After Announcing First Drilling Results of Daewang Whale

The stock price of Korea Gas Corporation is plummeting. It is reported that the initial exploratory drilling results at the promising deep-sea gas field structure 'Daewanggorae' in the East Sea fell far short of the level required for development as an economically viable gas field.

As of 9:23 a.m. on the 7th, Korea Gas Corporation is trading at 30,450 won, down 14.1% from the previous day.

A senior official from the Ministry of Trade, Industry and Energy stated in a briefing the day before, "Some signs of gas were detected during the drilling process, but not at a level sufficient to secure economic viability."

The official added, "Although the results did not meet expectations, useful data for future exploration was obtained," and emphasized, "It is important to reduce risks and increase the probability of success during the investment attraction process."