Aekyung Chemical hit the upper price limit early on the 22nd on news of a sharp rise in international oil prices.
It is seen as a result of investors concentrating buying on bio-based material corporations that can reduce reliance on petroleum-based feedstocks, as oil prices showed instability amid tensions between the United States and Iran.
As of 10 a.m. that day, Aekyung Chemical was trading at 19,960 won on the Korea Exchange, up 29.95% from the previous session, hitting the upper price limit.
On the 21st (local time), June delivery Brent crude futures on the London ICE Futures Exchange closed at $98.48 per barrel, up 3.14% from the previous session. West Texas Intermediate (WTI) on the New York Mercantile Exchange also rose 2.57% to $89.67.
Aekyung Chemical has secured a refinery-linked supply chain for the production of biodiesel and glycerin. Based on this, it has been steadily expanding the share of its biofuel and eco-friendly chemical materials businesses.