On the 4th, shares of Krafton, a game software developer, are surging on news that it will move to commercialize Autonomous Driving services with SOCAR, the ride-sharing company led by Lee Jae-woong.
In the morning, Krafton's stock rose more than 10%, putting 300,000 won within reach. It is the highest level this year. Notably, foreign securities such as JPMorgan and Goldman Sachs are appearing among the main buying windows.
On the 30th, Krafton said it would take part in establishing Apax Mobility, an Autonomous Driving unit that SOCAR is pushing at a size of 150 billion won. The new unit is scheduled to be set up within this month.
Krafton will first participate in SOCAR's paid-in capital increase and invest 65 billion won. Once the capital increase is completed, Krafton will become a major shareholder of SOCAR. Krafton then plans to make a separate investment in the new unit.
Experts expect SOCAR's Autonomous Driving business to become more concrete once the new unit is established. SOCAR currently holds the most driving data in Korea and continues to accumulate vehicle-related data through the fleet management system (FMS) installed in shared vehicles.
Krafton's first-quarter results it released also showed a marked improvement. Securities raised their target price for Krafton.