Inter-Korean stocks soar on hopes for renewed US-North Korea talks
Shares linked to inter-Korean economic cooperation skyrocketed, Tuesday, as U.S. President Donald Trump said North Korean leader Kim Jong-un had responded to his proposal for talks, according to the Korea Exchange. Good People soared 30 percent to close at 429 won ($0.31), hitting the daily price ceiling. Codes Combine and In the F also surged 30 percent and 29.81 percent, respectively, to close…
Inter-Korean stocks surged on Tuesday, fueled by optimism surrounding potential renewed talks between the United States and North Korea, according to the Korea Exchange. US President Donald Trump claimed that North Korean leader Kim Jong-un had agreed to the US proposal for dialogue.
Good People stock experienced a 30% increase, closing at 429 won (approximately $0.31), reaching the daily price limit. Codes Combine and In the F also saw significant gains, surging 30% and 29.81% respectively, to close at 3,510 won and 2,395 won. Both Good People and In the F are classified as inter-Korean cooperation stocks due to their historical operations in the Gaeseong Industrial Complex.
The Gaeseong Industrial Complex, established in 2004, was a jointly-run economic zone in North Korea. It was primarily funded by South Korea with the aim of fostering inter-Korean cooperation. In February 2016, the Park Geun-hye administration closed the complex, citing worries that profits generated could be used to finance North Korea's weapons programs.
The Gaeseong Industrial Complex serves as a key indicator of inter-Korean relations. As such, stocks of South Korean companies with links to the complex have been closely monitored. The recent surge in their prices underscores the positive sentiment surrounding the prospects of renewed US-North Korea discussions.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Inter-Korean stocks soar on hopes for renewed US-North Korea talks koreatimes.co.kr
