[Featured Stock] AhnLab Rises Over 10% on Ahn Cheol-soo's Likely Candidacy for Bundang-gap By-election

Ahn Cheol-soo, Chairman of the Presidential Transition Committee, is arriving at the transition office in Tongui-dong, Jongno-gu, Seoul on the 5th. Photo by the Transition Committee Press Corps

[Asia Economy Reporter Myunghwan Lee] AhnLab is showing strong gains, soaring more than 10% on the morning of the 6th. This is interpreted as a ripple effect of Ahn Cheol-soo, the chairman of the Presidential Transition Committee and the largest shareholder of the company, reportedly declaring his candidacy for the Bundang-gap district in Seongnam, Gyeonggi Province on the same day.

As of 10:43 a.m. on the day, AhnLab is trading at 127,800 KRW, up 13% (14,700 KRW) from the previous trading day.

According to a source close to Chairman Ahn on the previous day, he is expected to announce his position on running in the by-election after completing the final official event of the transition committee, a nationwide report meeting tour in Suwon, in the afternoon. Previously, Chairman Ahn had only stated that he would "focus on the transition committee's work" in response to some speculations that he might run in the Bundang-gap by-election, which became vacant due to former lawmaker Kim Eun-hye's candidacy for the Gyeonggi governor election.

Chairman Ahn is the founder of AhnLab and the largest shareholder holding 18.6% of the shares.

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