On the 21st, the stock price of Kyeryong Construction is strong in the early morning following the announcement of the administrative capital pledge by the Democratic Party of Korea's presidential candidates.
As of 9:28 a.m. on the same day, Kyeryong Construction is trading at 31,300 won, up 7,200 won (29.88%) from the previous trading day. This marks the second consecutive day it hit the ceiling price (the upper limit of the daily price restriction) following the 18th.
The Democratic Party of Korea's presidential candidates have promised to transfer the administrative capital to Sejong City, leading to expectations reflected in Kyeryong Construction's stock price. Kyeryong Construction, a construction company centered in the Chungcheong region, is considered a related stock due to its multiple participations in construction projects in Sejong City.
Candidate Lee Jae-myung said on the 17th, "I will make Chungcheong, the heart of balanced development in Korea, the administrative and scientific capital," and added, "I will build the National Assembly's Sejong office building and the presidential office in Sejong during my term." Candidate Lee further explained, "I will push for the complete transfer of the National Assembly's main body and the presidential office to Sejong through social consensus, and will resume the currently suspended transfer of public institutions as soon as possible." Candidates Kim Dong-yeon and Kim Kyeong-soo also made statements supporting Sejong City, heightening expectations for the transfer.