"Hadonghun Theme Stocks" Soar at Deokseong... Rise Again Despite "No Relation" Explanation

Deokseong Soars Over 20% for Three Consecutive Trading Days from 23rd to 27th

Despite Duksung, a synthetic resin and leather manufacturer mentioned as a theme stock related to Minister of Justice Han Dong-hoon in the securities market, issuing a disclosure denying the connection, it still showed strength on the 28th.

Duksung closed at 10,250 won, up 4.59% (450 won) from the previous trading day's closing price of 9,800 won.

Minister of Justice Han Dong-hoon, a classmate from Hyundai High School, and actor Lee Jung-jae.
[Photo source=Online Community]

With the 22nd National Assembly election approaching in April next year, Duksung, known as a theme stock related to Minister Han amid rumors of his candidacy, saw its stock price surge by over 20% for three consecutive trading days from the 23rd to the 27th.

In response, the Korea Exchange requested Duksung to disclose information regarding the significant market fluctuations, and Duksung stated the day before that there were no important disclosures to report. Through the disclosure, Duksung announced, "Although our company's stock has recently been mentioned as a political theme stock, we inform you that it has no relation whatsoever to our past or current business operations."

Duksung, established in 1966, is a company that produces and distributes synthetic resin and leather used in shoes, gloves, furniture, and more. Ahead of the presidential election last March, it was identified as a theme stock due to connections between President Yoon Seok-yeol, then the People Power Party candidate, and an outside director through academic and regional ties. In August this year, it was also designated as a theme stock related to superconductors.

Earlier, a photo of Minister Han and actor Lee Jung-jae having dinner at a galbi restaurant in Seocho-gu, Seoul, on the 26th was released on online communities. In fact, Minister Han and Mr. Lee are alumni of Hyundai High School.

The Impact of Han Dong-hoon and Lee Jung-jae's Dinner Photo... Daesang Holdings Also Hits Upper Limit

Minister of Justice Han Dong-hoon Photo by Yonhap News

As a result of this single photo, on the 27th, Daesang Holdings and its preferred shares both hit the upper price limit.

Daesang Holdings closed at 9,020 won on the Korea Exchange, up 29.97% from the previous day. Its preferred shares, Daesang Holdings Preferred, also rose to the maximum price limit (29.99%), closing at 9,970 won.

It is interpreted that Daesang Group stocks were grouped as so-called 'Han Dong-hoon theme stocks' among investors because actor Lee is a longtime partner of Lim Se-ryeong, vice chairman of Daesang Holdings.

With the general election scheduled for April next year, rumors of Han Dong-hoon's candidacy have attracted public attention. Especially recently, Minister Han has been visiting various regions to listen to voices from the field related to legal policies and has been increasing direct contact with the public through active communication, which led to some stocks being grouped as theme stocks and their prices rising.

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