[Featured Stock] Next I, Expecting Lifting of Hanhanryeong, Soars on China Cosmetics Business... Limit Up
[Asia Economy Reporter Yoo Hyun-seok] Next I recorded a limit-up. This is interpreted as reflecting expectations for cosmetics stocks as anticipation grows for the lifting of the Hanhanryeong (Korean Wave restriction in China) in China recently.
As of 1:50 PM on the 17th, Next I recorded 1,220 won, up 29.65% (279 won) compared to the previous trading day.
On the 10th, it was reported that the Korean drama category was restored on major Chinese online video services (OTT), raising expectations that the Korea-China conflict and Hanhanryeong triggered by the deployment of THAAD in 2016 may be easing.
Furthermore, after the market closed on the 14th, news that singer G-Dragon filmed a Chinese beverage commercial further heightened expectations for the lifting of Hanhanryeong.
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Next I operates the cosmetics franchise business "Yumiae" in China and has steadily expanded the number of stores despite external difficulties such as THAAD. Last year, it signed 252 franchise contracts and opened a total of 733 franchise stores. The goal is to open 1,000 franchise stores by this year. Using Yumiae stores and online platforms such as Taobao, Next I sells its own brand and affiliated company products.
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