Kumho Electric's shares soared following remarks by Chairman Choi Tae-won of SK Group regarding the expansion of investment in the Honam semiconductor cluster.
As of 1:51 PM on October 12, Kumho Electric's stock was trading at 11,070 won, up 29.93% (2,550 won) from the previous trading day, according to the Korea Exchange.
Based in Gwangju and Jeonnam, Kumho Electric has been classified as a thematic stock related to the development of the Honam semiconductor cluster. After the announcement of the cluster plan in June, the stock price surged nearly 2000% by August. However, concerns about the feasibility of the project led to a decline in the stock price starting last month.
Recently, Chairman Choi expressed his commitment to accelerating the development of the cluster, which has revived investor sentiment.
Chairman Choi visited the Gwangju military airport, which is being considered as a site for the semiconductor cluster, on October 9, stating, "If we can build a factory, we will do it as quickly as possible."
He further emphasized at an event in Shanghai on October 11, saying, "We need to act as quickly as possible. If companies like Micron in China or the U.S. expand faster, our market share will decrease."
* This article has been translated by AI.
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