In early trading on the 23rd, shares of Samyang Foods are up more than 10%. This is seen as stemming from expectations after the U.S. Supreme Court ruled on the 20th (local time) that the reciprocal tariff imposed by President Trump was unlawful.
As of 10:15 a.m. that day, Samyang Foods was trading at 1,285,000 won on the Korea Exchange, up 121,000 won (10.40%) from the previous session.
Samyang Foods has a sales subsidiary in the United States but no production plant, so it must export products made in Korea. According to Samyang Foods, 80% of its total revenue comes from overseas. Food products such as ramen had been subject to a 15% reciprocal tariff when exported to the United States.
Ryu Eun-ae, an analyst at KB Securities, said in a report that day, "While President Trump reimposed tariffs under Section 122 of the Trade Act, the impact on the food and beverage sector is judged to be limited," but added, "Lower rates and other tariff reductions are expected to ease expense burdens and improve the operating margin, and if U.S. consumer sentiment improves, the increase in sales volume will likely accelerate."