Nongshim Holdings stock is rising at midday on the 9th, while Nongshim's stock is declining. Lee Jae-myung's remarks have brought mixed reactions.
Nongshim Holdings shares traded at 85,700 won on the KOSPI market at 1:05 p.m. on that day, up 6.99% (5,600 won) from the previous trading day. During the session, it jumped to 87,200 won, marking its highest price in the past year.
The stock prices of holding companies, including Nongshim Holdings, are soaring. Expectations have grown that the holding companies, which were previously undervalued, can be reassessed as the President has promised to amend the Commercial Act. Nongshim Holdings' price-to-book ratio (PBR; market capitalization ÷ net worth) stands at 0.32.
At the same time, Nongshim's stock recorded 404,000 won. It decreased by 3.92% (16,500 won) compared to the previous trading day. Although Nongshim shares traded at a higher price than the previous day's closing price in the early session, they soon turned to a decline. The discussion about price countermeasures has sparked controversy since the President mentioned the price of ramen.
During the Emergency Economic Inspection Task Force meeting that day, the President instructed the preparation of price countermeasures, questioning, "Is it true that one ramen costs 2,000 won?" Nongshim's domestic ratio in ramen sales in the first quarter of this year is high at 92%.