[Featured Stock] Daeyoung Packaging Rises on Corrugated Paper Price Increase News
[Asia Economy Reporter Park Soyeon] Daeyoung Packaging is showing strength following news of corrugated box price increases.
As of 11:24 AM on the 22nd, Daeyoung Packaging is trading at 2,700 KRW, up 375 KRW (16.13%) from the previous day.
Daeyoung Packaging manufactures and sells corrugated cardboard and corrugated boxes, and owns seven affiliated companies.
Daeyoung Packaging has a market capitalization of 292.7 billion KRW and ranks 510th on the KOSPI.
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The day before, the Korea Corrugated Packaging Industry Cooperative proposed a price increase plan for corrugated boxes to over 1,000 food and beverage, courier, and transportation companies. It is reported that the plan suggests raising prices by about 10%. It is not yet decided how much companies will accept the price increase, and the proposal is expected to be adopted around the end of this year.
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