As the KOSPI repeatedly hits a record high, the number of so-called emperor stocks (shares priced at 1 million won or more) is rising quickly.
According to the Korea Exchange (KRX) on the 5th, as of the previous day's close there were nine emperor stocks. The number has already more than doubled from four at the end of last year.
As of the previous day, emperor stocks included Hyosung Heavy Industries, Samsung Biologics, Korea Zinc, Samyang Foods, Doosan, Hanwha Aerospace, SK hynix, HD Hyundai Electric, and Taekwang Industrial.
Hyosung Heavy Industries recorded 4,222,800 won per share, the highest price among domestic stocks on a single-share basis. Next were Doosan at 1,705,000 won, Korea Zinc 1,620,900 won, Samsung Biologics 1,485,000 won, Hanwha Aerospace 1,465,000 won, SK hynix 1,447,000 won, Samyang Foods 1,316,000 won, HD Hyundai Electric 1,299,000 won, and Taekwang Industrial 1,190,000 won.
If the domestic stock market's strength continues, new emperor stocks are expected to emerge soon. SK Square closed at 991,000 won on the 4th. The price, which was in the 360,000-won range at the end of last year, has risen nearly threefold and is waiting to join the emperor stock ranks. In addition, LIG Defense&Aerospace recently hit 1,118,000 won intraday, raising expectations, and Samsung Electro-Mechanics closed the previous session at 918,000 won.
However, as the price of a single share jumps, there are concerns that access could become difficult for some investors. Accordingly, some stocks are also raising expectations for stock splits. A stock split significantly lowers the per-share price, improving investor accessibility. A representative case is Samsung Electronics, which conducted a 50-to-1 split when it was trading at 2,000,000 won per share.