[Market Focus] Holding Companies Surge on Increased Likelihood of Commercial Act Amendment

As the likelihood of the Commercial Act amendment being passed has increased, holding companies have seen a simultaneous surge in their stock prices, with many hitting record highs.

As of 9:54 a.m. on July 1, at the Korea Exchange, HS Hyosung soared to its upper price limit, while SK rose by 15.16%, Hanwha by 13.57%, LS by 10.41%, CJ by 8.10%, LX Holdings by 7.36%, and LG by 6.78%, all showing significant gains. During the session, SK climbed to 238,500 won, marking a new 52-week high. Hanwha reached 109,200 won and LS hit 219,000 won, both also setting new 52-week highs. CJ rose to 174,800 won during trading, breaking its previous 52-week record as well.

The strong performance of these holding companies is attributed to the increased likelihood of the amendment being passed, following the People Power Party's announcement on the afternoon of the previous day that it would actively consider the Commercial Act amendment, despite having previously opposed it.