South and North Korea economic cooperation-related stocks are all showing strength on news that U.S. President Donald Trump is pushing for a summit with Kim Jong-un, North Korea's state affairs chairperson, as early as this fall.
As of 9:30 a.m. on the 19th, Good People(033340) hit the upper price limit on the KOSDAQ market, trading at 557 won, up 128 won (29.84%) from the previous session. In the F also rose to the price limit. Ilshin Stone is up 6.45%.
The potential resumption of a North Korea-U.S. summit is seen as lifting share prices. The Wall Street Journal (WSJ) reported on the 18th, citing U.S. officials, that President Trump instructed aides to review options for pursuing an in-person meeting with the chairperson Kim.
In particular, it was reported that meeting the chairperson Kim during President Trump's Asia tour to attend the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China, in November is being discussed. Formal preparatory procedures for a summit have not yet begun.
President Trump is said to be considering using a meeting with the chairperson Kim as a chance to restart the halted North Korea-U.S. dialogue. There is also analysis that his recent order to scale back the size of the South Korea-U.S. joint military exercises is a move considering the resumption of talks with North Korea.
President Trump and the chairperson Kim first held a summit in Singapore in 2018 and also met in Hanoi, Vietnam, and Panmunjom in 2019. Since then, North Korea-U.S. negotiations have remained in a prolonged stalemate as they failed to narrow differences over denuclearization and the lifting of sanctions on the North.