The representative of the People Power Party, Han Dong-hoon, suggested that he might step down from his position, leading to a sharp decline in related political theme stocks early in the market on the 16th.
As of 9:31 a.m. that day, DTI & C R Co. was trading at 5,460 won, down 1,690 won (23.64%) from the previous trading day.
Theme stocks associated with Representative Han Dong-hoon, including Taeyang Metal Preferred (-22.77%), Daesang Holdings Preferred (-21.36%), Taeyang Metal (-21.18%), Opasnet (-21.09%), Deokseong Preferred (-15.34%), Daesang Holdings (-15.22%), and DTI & C (-11.74%), also fell significantly early in the market.
Representative Han is scheduled to hold a press conference at the National Assembly at 10:30 a.m. that day, and speculation that he might express his intention to resign from the position has led to increased selling pressure.
Since the impeachment motion against President Yoon Seok-yeol was passed in the National Assembly on the 14th of this month, Representative Han has faced pressure to resign within the party.
In response, Representative Han stated that he would "perform his duties," but some analysts suggest that he changed his position toward resignation after all five elected supreme committee members identified with the pro-Han faction submitted their resignations, leading to a collapse of the party leadership.
If Representative Han resigns, floor leader Kwon Seong-dong will take over as acting party leader.