[Special Stock] Kyeryong Construction Hits Upper Limit Again on Hopes for 'Sejong Era'

On April 21, shares of Kyeryong Construction hit the upper price limit again in early trading, fueled by expectations that the next administration will usher in the 'Sejong Era.' Kyeryong Construction has attracted attention as a beneficiary of the Sejong Era, following Democratic Party presidential candidate Lee Jaemyung and other leading contenders announcing plans to relocate the administrative capital, and the People Power Party also declaring its intention to end the Yeouido National Assembly era.

As of 9:40 a.m. on the same day, shares of Kyeryong Construction, a construction company based in the Chungcheong region, were trading at 31,300 won, up 29.88%, the daily price limit. This follows the previous trading day, April 18, when the stock also hit the upper limit, surging 29.92% to close at 24,100 won.

This sharp rally is attributed to leading presidential candidates, including Lee Jaemyung, pledging to move the administrative capital to Sejong ahead of the upcoming June presidential election. Kyeryong Construction has a track record of participating in numerous Sejong City construction projects, having focused its business in the Chungcheong region.

Not only Kyeryong Construction but also Seongsin Yanghoe, another stock associated with the Sejong City theme, was trading at around 11,430 won per share, up more than 23% from the previous session.

Lee Jaemyung, a leading presidential candidate, pledged during the Democratic Party's primary debate on April 18 to make Sejong the administrative capital and to build both the Sejong National Assembly building and the presidential Sejong office during his term. Candidates Kim Kyungsoo and Kim Dongyeon also confirmed they would begin working from Sejong as soon as their terms start.

On the morning of April 21, the People Power Party announced its intention to relocate the National Assembly to Sejong City and accelerate the construction of the second presidential office in Sejong. Kwon Youngse, emergency committee chair of the People Power Party, said at an emergency committee meeting held at the National Assembly, "As promised in the last general election, we will end the Yeouido National Assembly era, which has become a symbol of outdated politics, and open a new chapter for the National Assembly in Sejong."