Samyang Foods reported earnings that exceeded market expectations, causing its stock price to surge in the After-Market from 3:40 p.m. to 8 p.m. on the 15th.
Samyang Foods' stocks were traded at 1,083,000 won at 4:33 p.m. on the same day, rising 8.41% (84,000 won) from the previous day's closing price. Samyang Foods surpassed the highest price recorded in the regular market (1,010,000 won) and reached the status of 'premium stock' (stocks priced over 1,000,000 won per share).
Samyang Foods announced after the regular market close that it recorded revenue of 529 billion won and an operating profit of 134 billion won for the first quarter (January to March) of this year, surpassing market expectations of revenue of 498 billion won and an operating profit of 104 billion won. The stock price continues to rise on the popularity of its flagship product, 'Buldak Fried Noodles.'
Additionally, Samyang Foods was included as a constituent of the Standard (large and mid-cap) index according to the results of Morgan Stanley Capital International's (MSCI) May regular review conducted the previous day. The rebalancing will take place on the 30th. The MSCI index is considered one of the most influential stock indices in the world, which also means it attracts a large amount of passive funds. Securities firms anticipate that the inclusion in the MSCI Standard index will generate a supply of around 210 billion won for Samyang Foods.