Media reports indicated that Woo Oh-hyun, chairman of SM Group, received an invitation to the inauguration ceremony of President-elect Donald Trump, leading to a surge in the stock prices of the group's listed companies.
Namseon Aluminum shares traded at 1,646 won on the KOSPI market at 9:23 a.m. on the 20th. The stock price rose 15.7% (223 won) compared to the previous day. At the same time, the stock prices of SM Group affiliates such as Korea Shipping, SM Vexcel, and TK Chemical also showed an increase of around 7%.
It is interpreted that investors flocked following reports that Chairman Woo will officially attend Trump’s second inauguration in Washington D.C. in January 2025.
Chairman Woo also received an invitation to attend President Trump's first inauguration in 2017. He has been consistently supporting the Korea-U.S. Alliance Foundation.