Inter-Korean stocks soar on hopes for renewed US-North Korea talks

Shares tied to inter-Korean economic cooperation surged on Tuesday, following U.S. President Donald Trump's claim that North Korean leader Kim Jong-un had agreed to his proposal for renewed talks, according to the Korea Exchange. The Good People stock experienced a 30% increase, closing at 429 won ($0.31) and hitting the daily price limit.

Combine Code and In the F also rose 30% and 29.81%, respectively, to close at 3,510 won and 2,395 won. Good People and In the F are classified as inter-Korean cooperation stocks due to their involvement in the Gaeseong Industrial Complex. Combine Code is also considered part of this category because its largest shareholder had previously operated within the complex.

Established in 2004, the Gaeseong Industrial Complex was a jointly-run economic zone in North Korea, primarily funded by South Korea to foster inter-Korean cooperation. However, in February 2016, the Park Geun-hye administration decided to shut down the complex, citing concerns that the funds generated there might be misused for financing North Korea's weapons programs.

As a key indicator of inter-Korean relations, the stocks of South Korean companies with links to the Gaeseong Industrial Complex have been closely monitored.