[Market Focus] "Chimaek" Gathering of Three Business Leaders... Kyochon F&B Rises 7.81%

Following the "Chimaek" gathering between NVIDIA CEO Jensen Huang, Samsung Electronics Chairman Jay Y. Lee, and Hyundai Motor Group Chairman Chung Eui-sun, shares of Kyochon F&B surged sharply.

As of 9:10 a.m. on October 31, Kyochon F&B was trading at 4,555 won, up 330 won (7.81%) from the previous trading day. Immediately after the market opened, the stock price had risen as much as 15.98%.

Samsung Electronics Chairman Jay Y. Lee (from left), Hyundai Motor Group Chairman Chung Eui-sun, and NVIDIA CEO Jensen Huang are having a "Chimaek" gathering at a chicken restaurant in Samseong-dong, Seoul, on the evening of the 30th. Photo by Jo Yongjun

The previous day, CEO Huang, Chairman Lee, and Chairman Chung held a "Chimaek" meeting at a Kanbu Chicken restaurant in Samseong-dong, Seoul.

Before entering the chicken restaurant, CEO Huang told reporters, "I am really looking forward to meeting the President of Korea at the APEC Summit tomorrow (the 31st)," and added, "NVIDIA is preparing several announcements in Korea and will unveil projects we are working on with outstanding partners." He also said, "Chicken and beer with friends is the best. That's why 'Kanbu' is the perfect place."

Although the gathering took place at Kanbu Chicken, the sharp rise in Kyochon F&B's share price is attributed to the fact that it is the only listed domestic chicken franchise.