Emart's stock price is rising by more than 2%. At one point, it increased by over 7% and even recovered to 70,000 won.
According to the Korea Exchange on the 23rd, as of 9:34 a.m. that day, Emart's stock price recorded a rise of 2.28% to 67,300 won compared to the previous transaction day.
However, the rate of increase is decreasing over time. On that day, Emart's stock price formed an opening price of 70,400 won and had reached a high of 70,500 won, which is an increase of 7.14% compared to the previous transaction day.
Emart is a leading domestic retail corporation, but its stock price has continued to decline due to poor performance and doubts about new growth drivers. In June, the stock price even stayed in the 50,000 won range.
The rise in Emart's stock price that day is attributed to the disclosure of Shinsegae Group Chairman Chung Yong-jin's meeting with U.S. President-elect Donald Trump over the weekend. After returning to Korea, Chairman Chung said in an interview with reporters, "I did not consider the ('role as a private bridge'), and I am trying to do my best in my position as a businessman."
Additionally, there is the 'Lee Jae-myung effect.' Lee Jae-myung of the Democratic Party of Korea brought up the issue during a discussion on the amendment to the Commercial Act on the 19th, saying, "Low PBR stocks should be subject to hostile mergers and acquisitions (M&A)." This statement was made after asking the CFO of Simpac, who was present at the discussion, about the company's PBR, which was answered as 0.3 times, indicating that undervalued corporations should face management rights challenges.
Emart's PBR is 0.16 times, the lowest among retail companies. It is lower than Lotte Shopping (0.17 times) and Hyundai Department Store (0.24 times), which are considered its 'retail rivals.' Simpac, which faced an attack from Representative Lee Jae-myung, is also up 2.5% on that day.