Hansung Corp. Stock Surges Over 50% in 4 Days, Hits Upper Price Limit on July 9

According to Korea Exchange, South Korean food company Hansung Corp. saw its stock rise 29.94% to 6,510 won on July 9, marking a surge of over 50% within four days. The stock's recovery, which pushed the company's market capitalization to 40.4 billion won, allowed it to avoid the threat of delisting following stricter listing standards that took effect this month requiring a minimum market cap of 30 billion won.

The rally was driven by online attention to the company's 25-year sponsorship of a UN veterans' tribute concert. After the company's charitable contribution gained visibility on social media and online forums, consumers and investors launched coordinated buying campaigns for both products and shares, with some items selling out and shipments facing delays on the company's e-commerce platform.