Gwangju Shinsegae shares jumped sharply early on the 26th as the possibility emerged that Samsung Electronics and SK hynix could build a semiconductor cluster in the Honam region.

A rendering of the mixed-use complex The Great Gwangju, which Gwangju Shinsegae is promoting through development of the intercity bus terminal area near its department store. /Courtesy of Gwangju Metropolitan City

As of 9:09 a.m. that day, Gwangju Shinsegae was trading at 45,050 won, up 10.69% (4,350 won) from the previous session.

Recently, as Samsung Electronics and SK hynix have been discussing plans with the government to create local semiconductor clusters, the Honam area has been cited as a strong candidate region.

A public-private joint meeting to discuss achieving national regional balance is expected to be held on the 29th, where plans for investments in the Honam and Chungcheong regions by Samsung Electronics and SK hynix, including the creation of a Honam semiconductor cluster, are said to be unveiled.

Shinsegae Group is currently pursuing the "The Great Gwangju" project to redevelop the area around the Gwangju Intercity Bus Terminal.

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