[Market Focus] Kona I Hits Record High on Expectations for New Administration's Local Currency Initiatives

In early trading, stocks related to local currencies, such as Kona I, are showing strong performance.

As of 9:06 a.m. on June 4, Kona I was trading at 53,900 won, up 18.59% (8,450 won) from the previous session. At one point during the session, the stock soared to 55,800 won, marking a new 52-week high. Webcash also reached a new all-time high with a 6.83% increase. Kukon rose by 6.33% as well.

Investor sentiment appears to have been boosted after President Lee Jaemyung, who has newly assumed office, pledged government funding for local currency initiatives, which are a key focus of his administration. Previously, the National Election Commission had disclosed that the sub-clauses of the top 10 campaign pledges included expanding the issuance of Local Love Gift Certificates and Onnuri Gift Certificates.

Kona I has been providing local currency and Kona Card payment services based on its payment platform since 2018. As of the end of March, the company had 17.11 million customers and processed an annual payment volume of 10 trillion won.