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(Photo=Hwacheon Machinery) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Hwacheon Machinery, considered a "Chokuk theme stock," posted a 16% surge in early trading, breaking the new high price. Earlier, Representative Cho Kuk denied the connection, saying, "There is no connection."
As of 10:07 a.m. on the 19th, Hwacheon Machinery in the securities market stands at 9,490 won, up 1,360 won (16.73 percent) from the previous day. Stock prices nearly tripled from the 3,200 won range last month. It has been on the rise for the past three days, rising 10.02% on the 15th, and rising 29.87% on the previous day to hit the upper limit.
Hwacheon Machinery's strength is attributed to Rebuilding Korea Party's recommendation of Cho Kuk as the No. 2 proportional representative candidate in the afternoon of the previous day. Analysts say that if the Rebuilding Korea Party's recent poll approval rating rises to 19% and the trend is maintained, up to No. 10 proportional representation candidates can enter the National Assembly in a stable manner.
Established in 1975, Hwacheon Machinery is a company that produces and sells machine tools such as large wind turbines. The company was tied up as a "Chokuk theme stock" because Nam Kwang, who had been in charge of auditing the company until 2021, was an alumnus of law school at Berkeley University with former Minister Cho.
In the past, he posted on Cho's social network service (SNS) to deny his connection with Hwacheon Machine.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
