[Special Stock] Otek Surges on Expectations of Large-Scale Purchase of Negative Pressure Ambulances
[Asia Economy Reporter Hyunseok Yoo] Otech is soaring. It appears to be influenced by the government's announcement to purchase a large number of negative pressure ambulances.
As of 10:27 AM on the 4th, Otech was trading at 12,000 KRW, up 12.15% (1,300 KRW) compared to the previous trading day.
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On the same day, the Ministry of Economy and Finance announced a supplementary budget for COVID-19 and stated that 136 ambulances equipped with negative pressure devices would be fully funded by the national government. An economic media outlet reported that Otech is currently the only company producing negative pressure ambulances domestically. Additionally, Otech developed negative pressure ambulances in 2015 and 2016 during the MERS outbreak and delivered 32 units to the Seoul Fire Department and the National Medical Center. Since then, there have been almost no sales of negative pressure ambulances, except for one Solati negative pressure vehicle sold last year.
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