E-MART shares were strong early on the 6th. The buying spree for a second straight day is seen as driven by news that the ruling party, government, and presidential office are discussing allowing large discount stores to offer dawn delivery.
As of 9:20 a.m. that day, E-MART shares were trading at 112,100 won, up 8,500 won (8.20%) from the previous trading day. Right after the open, they rose to 122,300 won, setting a 1-year high.
The Democratic Party of Korea, the government, and the presidential office were reported to have held a consultative meeting on the 4th at the Export-Import Bank of Korea headquarters in Yeouido, Seoul, to discuss revising the Distribution Industry Development Act. The current Distribution Industry Development Act includes provisions such as "operating hours restricted from 12 a.m. to 10 a.m." and "designation of two mandatory closing days each month" for large discount stores.
The ruling party, government, and presidential office were said to have discussed creating an exception that would not apply related regulations to e-commerce. If regulations are eased, large discount stores could also offer dawn delivery services. On this news, E-MART jumped 11.21% the previous day at the close.