[Featured Stocks] Seol Gift Box Shortage?.. Packaging and Paper Stocks 'Rise'
[Asia Economy Reporter Hwang Junho] Stocks related to packaging, such as Sinpung Paper and Yeongpung Paper, are experiencing a sharp rise.
As of 9:26 AM on the 28th, Sinpung Paper is trading at 3,705 KRW, up 855 KRW (30%). At the same time, Yeongpung Paper is trading at 7,090 KRW, up 1,430 KRW (25.27%). Daeyoung Packaging is also up 18.64% at 2,005 KRW, and Taerim Packaging recorded a 13.38% increase at 5,930 KRW.
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This appears to be a result of growing concerns over a shortage of paper gift boxes for Lunar New Year gifts ahead of the holiday. Last October, a fire at Daeyang Paper, which accounted for 7% of domestic corrugated paperboard production, caused packaging and paper prices to rise. With an increase in parcel volumes during the Lunar New Year holiday, these concerns have reignited.
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