[Market Focus] Lee Jaemyung Theme Stocks Surge Ahead of Supreme Court Ruling... Hyungji I&C Hits Upper Limit

On April 30, just one day before the Supreme Court's full bench ruling on Democratic Party presidential candidate Lee Jaemyung's Public Official Election Act case, so-called "Lee Jaemyung theme stocks," including Hyungji I&C, are showing strong gains in the domestic stock market.

As of 9:40 a.m. on this day, shares of Hyungji I&C are trading at 1,966 won per share, up 29.94% from the previous session. Hyungji Global is up 25.96% at 6,550 won, and Hyungji Elite is up 22.84% at 2,555 won. These stocks are classified as "Lee Jaemyung theme stocks" due to their association with the free school uniform policy promoted by candidate Lee during his tenure as mayor of Seongnam.

This rally is a result of the announcement that the Supreme Court's full bench will deliver its verdict on candidate Lee's appeal regarding his alleged violation of the Public Official Election Act at 3 p.m. on May 1 in the main courtroom. This is much earlier than initially speculated, as the ruling was expected to come before the presidential candidate registration deadline of May 11. As a result, investor expectations that the election law risk surrounding the leading presidential candidate will be eased have led to increased buying.

Another Lee Jaemyung theme stock, Dongshin Construction, is also recording gains of around 12%. The company is considered a Lee Jaemyung theme stock because its headquarters are located in Andong, North Gyeongsang Province, which is candidate Lee's hometown.

In addition, Orient Precision is up about 15%, and ATEC is showing gains of around 7%. Sangi Construction, which previously experienced a sharp rise and subsequent drop due to the Lee Jaemyung theme stock effect, is also up more than 6%.