[Market Movers] Jeonjin Construction Robot Rises on News of Russia-Ukraine Peace Talks

As of 9:25 a.m. on October 17, shares of Jeonjin Construction Robot were trading at 51,400 won on the Korea Exchange, up 9.25% from the previous closing price. This appears to be due to news regarding discussions to end the Russia-Ukraine war.

Jeonjin Construction Robot is the largest manufacturer of concrete pump trucks (CPC) in Korea. A concrete pump truck is equipment that uses a boom mounted on the truck to deliver concrete, transported by a mixer truck (ready-mix concrete), to the desired location at a construction site under high pressure. It is an essential piece of equipment at construction sites. Jeonjin Construction Robot currently exports to 65 countries. Of its 100.3 billion won in sales in the first half of the year, exports accounted for 73%.

Earlier, on October 16 (local time), U.S. President Donald Trump met with reporters at the White House in Washington, D.C., and said, "I look forward to meeting President Putin soon," adding, "I think it will be within about two weeks, quite soon." Earlier that day, President Trump posted on the social media platform Truth Social, saying, "I just spoke with President Putin," and "We agreed to meet in Budapest, Hungary, to discuss whether we can put an end to the disgraceful war between Russia and Ukraine."