Donald Trump's son, Trump Jr., is scheduled to visit South Korea next week at the invitation of Chung Yong-jin, chairman of Shinsegae Group, causing Shinsegae Group's stock to rise early in the trading session on the 24th.
As of 9:28 a.m. on the same day, Shinsegae I&C is trading at 13,670 won, up 1,360 won (11.05%) from the previous trading day.
At the same time, other group stocks, including Shinsegae (3.34%), Emart (2.78%), and Shinsegae International (1.68%), are also rising.
This reflects the expectations for new investments and business opportunities that may arise during Trump Jr.'s visit to Korea. His visit was made possible by the invitation from Chairman Chung, with whom he has a close relationship.
According to reports, Chairman Chung suggested the visit to Trump Jr. earlier this month in response to requests from the business community to act as a bridge with the Trump administration. Trump Jr. is expected to meet with business leaders, including the heads of the country's top 10 corporations, during his visit to Korea next week. Business leaders are expected to share their intentions for investments in the U.S. from domestic corporations and the importance of Korea-U.S. economic cooperation.