Expectations that Samsung Electronics and SK hynix will invest in massive chip plant projects in Gwangju and the surrounding South Jeolla Province have triggered a rally in various companies headquartered in the region. The rally has been fueled by expectations that the purported large-scale chip plants would spur demand for roads, transportation networks, housing and other public infrastructure needed to support surrounding cities. However, concerns are also growing over speculative buying, as shares of companies with little apparent connection to the semiconductor industry have also fluctuated on the news. Listed construction firms mostly active in Gwangju and South Jeolla enjoyed the most notable spike. Kumho E&C hit the daily 30 percent trading limit on Friday after surging 29.9 percent on Wednesday, nearly doubling its share price in just one week. Namhwa Construction, based in Hwasun County of the province, jumped 29.96 percent on Friday. Industry officials said the rally appears to reflect expectations that the companies would benefit from increased demand for surrounding infrastr
South Jeolla chip plant plans trigger speculative rally in local stocks
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