[Market Focus] Paseco Ramps Up Cooling Product Production Amid Nationwide Heat Wave Alerts... Window-Type Air Conditioner Sales on the Rise

Paseco shares are showing strong performance. This is believed to be influenced by news that the company is focusing on manufacturing cooling products in preparation for the heat wave, as heat wave advisories have been issued nationwide.

As of 2:09 p.m. on July 2, Paseco was trading at 9,460 won, up 18.7% from the previous day.

According to the Korea Meteorological Administration on this day, heat wave advisories have been issued for most regions across the country. In some areas, the daytime high temperature has reportedly soared to as much as 36 degrees Celsius.

The number of heat wave days in South Korea has increased significantly compared to the past. According to the Korea Meteorological Administration, the number of heat wave days and tropical nights in South Korea during the 2010s increased by 1.7 times and 2.1 times, respectively, compared to the 1970s. The number of heat wave days and tropical nights showed little change until the 2000s, but rose sharply in the 2010s. In the 2020s, the figures further increased to 16.7 days and 12.9 days, respectively, compared to the 2010s.

Meanwhile, Paseco is reportedly operating its cooling product manufacturing plants at full capacity in preparation for the heat wave. In May, Paseco became the first in the industry to launch the sixth-generation window-type air conditioner Premium 3, equipped with a ventilation system. The product features three automatic ventilation modes?automatic, fan, and artificial intelligence (AI)?which repeatedly circulate cooling, drying, and ventilation through the air vent, maximizing air circulation and helping to prevent air-conditioning-related illnesses.