The stock price of SY is soaring. It appears that the news of Lee Jae-myung, leader of the Democratic Party of Korea, mentioning support for prefabricated modular housing immediately after being acquitted in the appellate trial related to the Public Official Election Act case has influenced the stock price.
As of 9:50 a.m. on the 27th, SY is trading at 4,340 won, up 13.46% from the previous day.
On the previous day, Leader Lee visited Andong, Gyeongbuk, and met with wildfire victims, emphasizing the need for prompt support.
On that day, he visited the Andong Gymnasium, where a shelter had been set up, comforted the victims, and told reporters, "We must prepare housing support in advance so that these people can quickly return to their livelihoods."
He added, "Since this is such a large-scale disaster, I am worried whether there are enough supplies nationwide," and said, "We will start looking into it from now on."
Spokesperson Hwang Jeong-ah said, "(Leader Lee) said that stable housing must be arranged immediately. Support funds or prefabricated modular (housing) might also be possible," adding, "We will look for ways to receive support in consultation with the chairman of the Administrative Safety Committee."
Leader Lee cited the example of using prefabricated modular housing during last year's floods in the Chungcheong region.
SY's modular house, Polychem House, passed the fire safety test conducted by the Korea Construction Materials Testing Institute and obtained the SIP quasi-noncombustibility certificate. Obtaining the quasi-noncombustibility certificate ensures fire safety. Through Eugene Bell, three units were donated and installed for a tuberculosis patient treatment ward in North Korea. Polychem House was selected as the preferred supplier for the Nepal health center construction project. During the 2018 Pyeongchang Olympics, SY was responsible for developing, manufacturing, and constructing Polychem House for use as volunteer accommodations and auxiliary facilities. To expand the market for the modular house Polychem House, SY has completed building a sales network using dealerships that distribute building materials.
SY recorded sales of 561 billion won and an operating profit of 21.9 billion won last year, increasing by 1.3% and 61.8%, respectively, compared to the previous year.
Demand for modular housing is also expected to increase related to Ukraine's reconstruction. Since 80% of the house is manufactured in the factory and then moved to the site for assembly, rapid housing support is possible. In 2023, a Ukrainian parliamentary delegation visited Gwangyang City, toured the 12-story POSCO employee dormitory 'Gwangyang Gigatown,' which applied modular construction methods, and showed interest in modular housing.
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