[Featured Stocks] Shinsegae Construction, T-Plex, and Others Rally on Resumption of Hwaseong International Theme Park Project

[Asia Economy Reporter Minwoo Lee] Related stocks such as Shinsegae Construction and T-Plex are showing strong performance following news that the Hwaseong International Theme Park development project, which was canceled twice in the past, is being reinitiated.

As of 11:22 AM on the 16th, Shinsegae Construction is trading at 28,750 KRW, up 16.40% from the previous day. Around 11:11 AM, it even reached 31,800 KRW, up 28.74%, nearing the upper price limit.

This appears to be due to the Ministry of Land, Infrastructure and Transport's announcement to re-pursue the Hwaseong International Theme Park development project. On the same day, Korea Water Resources Corporation and the Shinsegae Property Consortium (Shinsegae Property + Shinsegae Construction) signed a business agreement related to the Hwaseong International Theme Park project. Previously, the Ministry of Land, Infrastructure and Transport stated that after changing the development plan in December last year and undergoing a four-month negotiation process, the project would be officially promoted starting from this day. Although this project has been pursued for 10 years, it was canceled during the developer selection process in 2012 and at the business agreement stage in 2017.

T-Plex, known to own 55,556 square meters (㎡) of land near the Hwaseong International Theme Park, is also showing strong performance. At the same time, it is trading at 2,030 KRW, up about 10% from the previous day.

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