[Market Highlight] Sampyo Cement Hits Upper Limit Early in Session... Up 29.95% from Previous Day

The stock price of Sampyo Cement hit the upper limit, driven by expectations for the development of its site in Seongsu-dong, Seongdong-gu, Seoul.

As of 9:46 a.m. on February 3, Sampyo Cement was trading at 14,190 won, up 29.95% (3,270 won) from the previous day.

Sampyo Cement's closing price was 8,400 won on January 30 and 10,920 won the previous day, showing an upward trend for two consecutive days.

The rise in stock price appears to reflect optimism about the development of the Seongsu-dong site. Sampyo Group is currently pursuing the 'Seongsu Project' to develop a future-oriented business complex with up to 79 floors on the site of the former Sampyo Remicon plant in Seongsu-dong, Seoul.

In December last year, the Seoul Metropolitan Government approved revisions to the district unit plan for the Seoul Forest area and the detailed development plan for the Sampyo Remicon special planning zone through the Urban Architecture Joint Committee.