[Market Focus] Flitto Jumps 19% on News of 6.4 Billion Won Supply Contract with Global IT Company

Flitto is showing strong gains in early trading.

As of 9:05 a.m. on July 3, Flitto was trading at 14,510 won, up 19.33% (2,350 won) from the previous day. During the session, the stock soared to 14,810 won, hitting a new 52-week high.

After the market closed the previous day, Flitto announced that it had signed a contract to supply data for research and development of artificial intelligence (AI)-based language models with a global information technology (IT) company, boosting investor sentiment.

The contract is valued at 6,373,990,000 won, which accounts for 31.4% of the company's total sales last year. The contract period runs from July 3 to November 11.