[Market Focus] Shinsegae Shares Surge on News of Donald Trump Jr.'s Visit at Chung Yongjin's Invitation

On April 24, shares of Shinsegae Group companies surged in early trading following news that Donald Trump Jr., the eldest son of former U.S. President Donald Trump, will visit South Korea at the invitation of Shinsegae Group Chairman Chung Yongjin.

As of 9:26 a.m. on this day, Shinsegae I&C shares were trading at 13,600 won, up 10.48% from the previous session.

In addition, Shinsegae shares rose 3.28% to 154,400 won, while Emart was trading at 89,000 won, up 3.01% from the previous day.

Shinsegae Group announced the previous day that "Donald Trump Jr. will visit South Korea at Chairman Chung's invitation and is scheduled to meet with key executives from major Korean companies." Earlier this month, Chairman Chung visited the Mar-a-Lago resort in Palm Beach, Florida, where former President Trump resides, and invited Donald Trump Jr. to visit South Korea. Donald Trump Jr. reportedly accepted the invitation.

Donald Trump Jr. is expected to visit South Korea next week and meet with business leaders, including the heads of the nation’s top ten conglomerates.