[Market Focus] Han Ducksoo-Themed Stocks Plunge to Lower Limits... Kim Moonsoo-Themed Stocks Surge

As former Prime Minister Han Ducksoo's bid for the presidency was derailed, stocks associated with the Han Ducksoo theme, including Icecream Edu, hit their lower price limits one after another on the domestic stock market on the morning of May 12. In contrast, stocks related to Kim Moonsoo, the People Power Party's presidential candidate, soared.

Icecream Edu, considered a representative Han Ducksoo-themed stock, was trading at 2,660 won per share as of 9:50 a.m. on this day, down 30% from the previous session. Sigong Tech also hit its lower price limit, falling 29.95% to 4,000 won.

Sigong Tech was classified as a Han Ducksoo-themed stock after it became known that its largest shareholder, Chairman Park Kisuk, served as a civilian member of the Presidential National Economic Advisory Council in 2008 alongside then-Acting Prime Minister Han. Icecream Edu, a subsidiary of Sigong Tech, has also been considered a Han Ducksoo-themed stock and had recently seen a sharp rise in its share price.

Another Han Ducksoo-themed stock, Iljeong Industrial, was also down 29.98% to 15,650 won. Iljeong Industrial has been classified as a Han Ducksoo-themed stock because Vice Chairman Ko Dongsu previously served as a civilian member of the Regulatory Reform Committee with former Prime Minister Han.

This is a result of the fallout from the failure of the People Power Party's attempt to replace its presidential candidate over the weekend, which led to the collapse of Han's presidential bid itself. Previously, the party leadership had begun the process of replacing its presidential candidate from Kim to former Prime Minister Han, but the attempt was scrapped after a party member vote resulted in more opposition than support. Afterwards, Kim completed his registration as a presidential candidate with the National Election Commission.

As a result, Kim Moonsoo-themed stocks are surging. Pyeonghwa Holdings hit its upper price limit, trading at 11,570 won, up 30% from the previous session. Pyeonghwa Industry and Daeyoung Packaging are also showing gains of 29.99% and 29.96%, respectively.