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[Alpha Biz=(Chicago) Reporter Paul Lee] Ahead of the general elections in April next year, despite the stock market's public announcement that stocks referred to as theme stocks by Justice Minister Han Dong-hoon "have nothing to do with our business," they have continued to be remarkably strong day after day.
In particular, Lee Jung-jae's lover, Vice Chairman Lim Se-ryoung, saw unexpected benefits as Justice Minister Han Dong-hoon and actor Lee Jung-jae were known to be close to each other through a single photo. The stock price of Daesang Holdings, where Vice Chairman Lim is the second largest shareholder, surged two days in a row.
On the 28th, Daesang Holdings closed at 11,290 won, up 2,270 won (25.17%) from the previous trading day. After hitting the upper limit the previous day, it jumped more than 20% on the same day. During the market, the price limit soared to KRW 11,720. Daesang Holdings, the preferred stock, hit the upper limit on the day following the previous day.
Stock prices of holding companies do not often reach the upper limit. Nevertheless, the unusual surge in these stocks is attributed to the release of photos taken by Minister Han and Lee Jung-jae after dinner at a rib restaurant in Seocho-gu, Seoul, to the online community. Amid growing expectations for Minister Han to run in next year's general elections, Daesang Holdings was also tied up as a "Han Dong-hoon theme stock" as Lim's official lover, Lee Jung-jae, was found to be an alumnus of Apgujeong Hyundai High School with Minister Han.
The value of Vice Chairman Lim's stake is estimated to have increased significantly amid Daesang Holdings' rush. Vice Chairman Lim is the second largest shareholder with a 7,389,242 shares (20.41% stake) in Daesang Holdings. As of the closing price (KRW 6,940) on the 24th, Vice Chairman Lim's Daesang Holdings shares were valued at KRW 51.28133 billion, but the value of the shares surged to KRW 66.65 billion on the 27th, when the stock hit the upper limit. It is worth 15.4 billion won in just one trading day. As it surged more than 20% on the same day, the valuation of its holdings increased further.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
