As Korea Zinc's rare metal business draws attention amid China's controls on rare earth exports, the stock logged gains for a third straight session.
Korea Zinc extracts rare metals and turns them into products during the smelting of zinc and lead concentrates brought in from mines around the world.
Korea Zinc shares traded at 1,287,000 won on the KOSPI at 9:28 a.m. on the 14th. The price rose 11.62% (134,000 won) from the previous day.
Korea Zinc also jumped 5.01% (460,000 won) on the 10th and 19.48% (1,880,000 won) the previous day, returning to "emperor stock (shares priced at 1 million won or more per share)."
After surpassing the market capitalization of companies such as POSCO Holdings, it also outpaced HD Hyundai Electric and Hana Financial Group on the day. By market capitalization, it ranks 21st on the KOSPI (excluding preferred shares). The gap with No. 20 Kakao is about 2.2 trillion won.
China's rare earth export controls are elevating the importance of Korea Zinc's rare metal business. Korea Zinc in particular exports antimony, a key material for the defense industry, to the United States. It also produces indium and bismuth, among others.