[Market Focus] Sejong Administrative Capital Debate Reignites... Sampyo Cement Up 10%

Sampyo Cement showed strong performance in early trading. As discussions about the complete relocation of the administrative capital to Sejong have reignited ahead of the presidential election, investor sentiment toward related theme stocks appears to have been stimulated.

At 9:05 a.m. on the 22nd, Sampyo Cement was trading at 3,520 won, up 10.17% (325 won) from the previous day. Other cement-related companies, such as Hanil Cement (+7%) and Sungshin Cement (+27%), also showed strong gains across the board. Sungshin Cement, a cement manufacturing company, has large-scale production facilities in Sejong City.

The factor driving up stock prices on this day was the presidential candidates' pledges to relocate the administrative capital. Lee Jaemyung, a preliminary candidate from the Democratic Party of Korea, stated at a joint campaign speech during the Chungcheong region primary on the 19th, "There will be challenges such as constitutional amendments, but I will complete Sejong as the 'center of the administrative capital' through social consensus."

The People Power Party has also shown a positive response to relocating the National Assembly and the presidential office. Kwon Youngse, acting chairman of the People Power Party’s emergency committee, said at a committee meeting held at the National Assembly the previous day, "We will end the era of the Yeouido National Assembly, which has become a symbol of outdated politics, and open a new era with the National Assembly in Sejong."