Chin Yang Chemical, Chin Yang Industry, and Chin Yang Poly, which were classified as theme stocks of Mayor Oh Se-hoon, all plummeted early in the session on the 14th.

Seoul Mayor Oh Se-hoon is leaving the press conference after announcing his decision not to run in the presidential election during an emergency press conference held at the headquarters of the People Power Party in Yeouido, Seoul, on Dec. 12./Courtesy of News1

As of 9:29 a.m. on that day, Chin Yang Chemical was down 29.99%, Chin Yang Industry was down 29.92%, marking the price limit down. Chin Yang Poly was also down 25.32% during the transaction. Chin Yang Holdings fell 4.59%, showing a relatively smaller drop.

Mayor Oh held a press conference on the 12th at the People Power Party headquarters announcing his decision not to run in the presidential election, stating, "We must break away from outdated conservatism and open a new path for conservatism," and added, "We need to transform into a party that dedicates itself to the underprivileged and conduct the presidential election beyond being anti-Lee Jae-myung."

Initially, Mayor Oh declared his candidacy for the presidential election while selecting the slogan 'Accompanying the Underprivileged.' However, as he abandoned his presidential run, the theme stocks also experienced a sharp decline.

Chin Yang Holdings, along with Chin Yang Industry, Chin Yang Chemical, and Chin Yang Poly, is classified as a theme stock of Oh Se-hoon. The reason is that Vice Chairman Yang Jun-young of Chin Yang Holdings and Mayor Oh are alumni of Korea University.