[Market Highlight] Samyang Foods Surges for Third Consecutive Day, Surpasses 1.6 Million Won

Samyang Foods continued its upward trend for the third consecutive day, surpassing 1.6 million won during intraday trading.

As of 9:20 a.m. on August 28, Samyang Foods was trading at 1,605,000 won, up 93,000 won (6.15%) from the previous day. The stock hit an all-time high of 1,609,000 won during intraday trading.

The continued inflow of institutional buying is driving the stock price higher. Institutional investors have been net buyers of Samyang Foods for eight consecutive trading days. During this period, they purchased a net total of 127.5 billion won, making it the second most bought stock after SK Hynix.

Notably, the National Pension Service announced the previous day that its stake in Samyang Foods increased from 9.46% on May 9 to 9.58% as of August 21. In addition, it changed its investment purpose from "simple investment" to "general investment." While general investment, like simple investment, does not aim to influence management rights, it allows for more active shareholder activities such as proposing amendments to the articles of incorporation for increased dividends or improved governance, and calling for the dismissal of executives involved in illegal activities.

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