The court postponed the trial date for election law violations involving Lee Jae-myung, the Democratic Party of Korea presidential candidate, until after the presidential election, causing related theme stocks to soar.
Sangji Construction shares traded at 32,550 won on the Korea Securities Dealers Automated Quotations market at 1:11 p.m. on the 7th, a 24.19% (6,350 won) increase from the previous trading day. Sangji Construction was tied to the theme stocks due to the past involvement of former outside director Im Mu-young in Lee's campaign. The stock price of Sangji Construction had been trading below 30,000 won before the market opened that day, but surged after the announcement of the trial date.
In addition, other stocks considered theme stocks related to Lee, such as Dongsin Construction, Orient Precision Industries, Hyungji Global, and KONA I, are also showing strong performance.
The court announced that it will change the trial date for Lee's election law violation case to June 18. The first trial date was originally set for the 15th but was pushed back past the June 3 presidential election.
The court stated, "To ensure equal campaigning opportunities for the defendant, who is a presidential candidate, and to eliminate any controversy over the fairness of the trial, the trial date is being changed to after the presidential election," adding, "The trial panel for the case will ensure that it conducts the trial independently and fairly, free from any influence or interference, both inside and outside the court, and based solely on the Constitution and laws, now and in the future."