[Stock in Focus] Harim Holdings Surges 14% on Yangjae Site Development Momentum

On December 11, Harim Holdings is showing strong performance. As major terminals in Seoul have recently begun development projects simultaneously, stocks related to these developments have gained attention. This has led to increased investor interest in Harim Holdings, which is undertaking the redevelopment of the Yangjae Freight Terminal in Seocho District.

As of 9:32 a.m. on this day, Harim Holdings is trading at 10,150 won, up 1,280 won (14.43%) from the previous trading day.

Harim Holdings, through its wholly owned subsidiary Harim Industries, is promoting the development of a mixed-use complex on the Yangjae-dong site that will combine logistics, residential, and office facilities.

This project gained momentum after Harim Group purchased the site in 2016. In August, Harim Group received final approval from the Seoul Metropolitan Government for its plan to transform the Yangjae Freight Terminal site into a state-of-the-art logistics complex with 8 basement levels and 59 above-ground floors, as well as apartments and officetels.

Currently, the company is preparing for architectural review. If permits and financing proceed smoothly, construction is expected to begin in the second half of next year. Harim Group is reportedly planning to raise the project funds through pre-sales of apartments and project financing (PF).