[Stock Focus] Sampyo Cement Extends Rally... Share Price Doubles in Five Days

Sampyo Cement continues its upward streak, which is interpreted as being driven by sustained expectations over the development of its Seongsu-dong site.

As of 9:23 a.m. on the 6th, Sampyo Cement was trading on the Korea Exchange at 21,350 won, up 15.78% from the previous session.

Previously, Sampyo Cement had hit the daily upper price limit for three consecutive sessions from the 2nd to the 4th. From the 30th of last month, the daily price changes surged by +27.27%, +30.00% on the 2nd, +29.95% on the 3rd, and +29.95% on the 4th. The closing price on the 30th of last month was 8,400 won, but the previous day's close jumped 2.19 times to 18,440 won.

The news of the development of the Seongsu-dong site owned by Sampyo Cement is seen as boosting investor sentiment. Sampyo Cement recently finalized a plan to develop the site in Seongsu-dong, which had previously been used as a ready-mixed concrete plant, into a future-oriented mixed-use complex with a scale of 79 stories.

On the 3rd, Seoul Mayor Oh Sehoon visited the Seongsu-dong site and stressed, "The Sampyo Remicon site, which has long drifted due to residents' suffering from noise, dust, and traffic congestion, as well as repeatedly aborted project plans, has found a breakthrough in the preliminary negotiation system, discovered a 'win-win-win' solution in which business, administration, and citizens all benefit, and is being reborn as a 'global future work district'."