[Featured Stock] Seongan Materials, Major Shareholder Change and New Business Expectations... Strong for 3 Consecutive Days

Sungan Materials has been on a three-day consecutive rise due to changes in major shareholders and expectations for new businesses.

As of 1:56 PM on the 20th, Sungan Materials is trading at 556 KRW, up 3.93% compared to the previous day. Notably, except for the 17th, it has recorded a five-day consecutive upward trend.

At the end of December last year, the largest shareholder of Sungan Materials changed to WS. WS is a company led by CEO Lim Jong-chan, who heads Woosung Metal. Woosung Metal possesses the largest casting product manufacturing facilities in Korea and has been showing continuous growth as a manufacturer of large structures and key industrial parts.

Accordingly, expectations for synergy with Woosung Metal and expansion into new businesses are increasing. In particular, due to the collapse of Ukraine's steel industry caused by the Russia-Ukraine war, global companies seeking alternative suppliers are expanding transactions with Woosung Metal, which is expected to have a positive impact on performance growth.

The advanced technology and large-scale facilities of Woosung Metal combined with Sungan Materials' business are expected to create a strong synergy effect and act as a future growth engine.