[Featured Stock] Shinwon Declares 'Quantum Jump', Showing Early Strong Gains
[Asia Economy Reporter Park So-yeon] Shinwon is showing strong performance in the early morning session.
As of 9:54 AM on the 21st, Shinwon is trading at 2,140 KRW on the KOSPI market, up 310 KRW (16.94%) from the previous day.
Shinwon declared this year, its 48th anniversary, as the "Year of Quantum Jump." The goal is to lead Shinwon's second leap forward through the success of the street brand Mark M and the establishment of a new factory in Indonesia.
They announced that they have signed a contract with "The SNS Global" for the entry of Mark M products into duty-free shops. The contract includes supplying approximately 120 billion KRW worth of Mark M products to duty-free shops by 2024.
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Additionally, Shinwon plans to establish a large-scale new factory in Indonesia. They will set up a new corporation in the Java region of Indonesia and plan to build 60 production lines this year and 150 production lines from next year onward.
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