[Featured Stock] Hanjin Kal Hits New High Again... Foreign Investors Rush to Buy

Rises for 5 Consecutive Days, Surges 28.5%

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Hanjin KAL has once again reached an all-time high. This appears to be due to an influx of buying pressure amid the management rights dispute.

According to the Korea Exchange as of 10 a.m. on the 27th, Hanjin KAL's stock price is trading at 65,600 KRW, up 9.33% from the previous day.

This marks the fifth consecutive trading day of gains since the 21st. Compared to the closing price of 50,800 KRW on the 21st, this is an increase of 28.5%.

This upward trend seems to be driven by foreign investors' buying activity. It is currently the top stock in net foreign purchases on the KOSPI market. Buying pressure is being channeled through firms such as Goldman Sachs.

In the midst of the management rights dispute, Delta Air Lines, classified as part of Chairman Cho Won-tae's camp, is steadily increasing its stake. On the 24th, Delta Air Lines purchased an additional 1% stake in Hanjin KAL, securing an 11% share. Chairman Cho is currently contesting management rights against former Vice Chairman Cho Hyun-ah, the so-called "Kang Sung-bu Fund" activist private equity fund (PEF) KCGI, and Ban Do Construction.

Meanwhile, Hanjin KAL plans to decide on Chairman Cho's reappointment as an inside director at the upcoming shareholders' meeting next month.

This content was produced with the assistance of AI translation services.