Samyang Foods has completed the construction of its second factory in Miryang, leading to a strong expectation for increased performance, resulting in a bullish stock price during trading on the 11th.
Samyang Foods' stock was traded at 1,223,000 won on the KOSPI market at 9:30 a.m. on the 11th. The stock price rose by 5.7% (66,000 won) from the previous day. Early in the session, the stock price even climbed to 1,230,000 won, nearing an all-time high of 1,233,000 won.
According to the industry, Samyang Foods plans to hold a ceremony for the completion of its second factory in Miryang on the same day. Production at the Miryang second factory is expected to commence in earnest next month.
Kim Tae-hyun, a researcher at IBK Securities, noted, "Currently, the Wonju and Miryang first factories operate for 22 hours a day, and the Iksan factory operates for 23 hours a day, indicating a tight supply situation, which greatly heightens the expectations regarding the production contribution of the Miryang second factory."