[Market Focus] Shinsegae Rises for 13 Consecutive Days... Surpasses 200,000 Won

Shinsegae continued its upward trend for the 13th consecutive day, surpassing 200,000 won during trading hours.

As of 9:46 a.m. on September 19, Shinsegae was trading at 201,000 won on the Korea Exchange, up 6,100 won (3.13%) from the previous day. The stock climbed as high as 207,000 won during the session, setting a new 52-week high.

Expectations for improved earnings and the decision by Hotel Shilla to withdraw from its Incheon Airport duty-free store are believed to have positively impacted the stock price.

The previous day, Hotel Shilla announced that it had decided to return the business license for the Shilla Duty Free Store's DF1 zone at Incheon Airport. Yoo Junghyun, a researcher at Daishin Securities, stated, "Hotel Shilla's decision to cease operations in the DF1 zone at Incheon Airport will have an overall positive effect on the domestic duty-free industry. For Shinsegae, as the remaining operator, this provides a more favorable negotiating position, which is expected to have a positive impact on its stock price."

Additionally, the duty-free business is expected to see improved earnings in the second half of the year. Researcher Yoo noted, "Although Shinsegae's duty-free business division remained in the red through the first half, the continued benefit of reduced airport location rent through the end of this year, the effects of restructuring at the Busan location, and eased competition at downtown locations are expected to lead to a clear improvement in operating profit in the second half. The recovery of the duty-free business in the second half will make a significant contribution to the company's overall performance."

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