Yoon-related stocks spike after clearing 'Kim phone call risk'

The main opposition People Power Party's presidential candidate Yoon Suk-yeol is seen with his wife Kim Keon-hee on MBC's program airing contents of phone calls between Kim and a YouTuber, Sunday. Yonhap

By Kim Bo-eun

Stocks related to main opposition People Power Party's presidential candidate Yoon Suk-yeol surged Monday, after a local broadcaster's airing of personal phone calls between Yoon's wife Kim Keon-hee and a YouTube channel reporter turned out not to be as damaging as expected to Yoon, maintaining his chances of being elected.

The reporter for a liberal YouTube channel named Voice of Seoul submitted recorded phone calls with Kim to broadcaster MBC, which aired a program releasing the content late Sunday. Concerns had mounted within the main opposition party, but little of Kim's remarks were considered controversial enough to affect Yoon's rating.

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The latest polls on support rates of presidential candidates are also seen to have helped push up Yoon-related stocks. Yoon's support rate stands at 40.6 percent according to Realmeter's data released Monday, up 6.5 percentage points from the previous week. The ruling Democratic Party of Korea's candidate Lee Jae-myung's support rate came to 36.7 percent, down 3.4 percentage points from last week. The minor opposition People Party's candidate Ahn Cheol-soo earned 12.9 percent of support, up 1.8 percentage points from the previous week.

Real estate developer Heerim's stock closed at 7,210 won, spiking 18.2 percent from Friday's close. The company has sponsored exhibitions for Kim's firm, Covana Contents.

Education service provider NE Neungyule saw its stock close at 15,050 won, surging 11.07 percent from Friday's close. It is considered a Yoon-related stock because the largest shareholder ― Korea Yakult Chairman Yoon Ho-joong ― is part of the same Yoon clan as the presidential candidate.

Synthetic and artificial leather manufacturer Duksung closed at 16,600 won, up 7.44 percent from Friday's close, and auto parts company Seoyon closed at 12,290, up 5.71 percent from Friday's close. Duksung and Seoyon are regarded as related to Yoon because their outside directors on the companies' boards include fellow Seoul National University College of Law alumni.

Stocks linked to rival candidate Lee, on the other hand, plunged. Meat product manufacturer Silla SG's stock closed at 11,200 won, down 9.68 percent from Friday's close. The company's CEO and Lee are both from the same hometown of Andong, North Gyeongsang Province.

Ilsung Construction closed at 4,925 won, down 7.6 percent from Friday's close. The builder is considered a possible beneficiary if Lee is elected, based on his housing construction policies.

School uniform maker Hyungji Elite closed at 3,270 won, down 5.49 percent from Friday's close. The company earlier benefited from Lee's public-funded school uniform policy that was initiated during his term as mayor of Seongnam City in Gyeonggi Province.

Ahn-related stocks also took a dive. Security solutions provider AhnLab closed at 89,300 won, down 14.46 percent from Friday's close. Ahn is AhnLab's founder and largest shareholder owning 18.57 percent of shares.

Sunny Electronics Corp. closed at 1,195 won, down 20.78 percent from Friday's close. The company has an executive from AhnLab.

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