The stock price of PARU, which manufactures solar tracking devices, reached the upper limit of the daily trading price for three consecutive days.
PARU's stocks were traded at 1,237 won on the Korea Securities Dealers Automated Quotations (KOSDAQ) market on the morning of the 15th. As soon as the market opened, the stock price increased by 29.94% (285 won) compared to the previous day. PARU continued its price rise, reaching the upper limit from the 13th up to this day. The stock price level almost doubled compared to the closing price on the 12th.
Recently, solar energy stocks showed strength as they were highlighted as thematic stocks related to government policies, in addition to expectations for improved domestic and international conditions. The U.S. Department of Commerce determined that solar parts from China were being exported through Southeast Asia and decided to impose anti-dumping tariffs and countervailing tariffs. China plans to reduce subsidies for renewable energy businesses starting in June, leading to expected indirect benefits for domestic corporations.
Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, pledged to expand the 'sunlight pension.' The sunlight pension is a system in Jeonnam Sinan County that distributes 30% of the profits from solar power companies to local residents.