[Asia Economy Reporter Minwoo Lee] SG Chungbang's stock price is on the rise. Expectations for the release of the Greenbelt in Seoul have increased, highlighting the fact that the company owns related land.


As of 2:10 PM on the 7th, SG Chungbang recorded 1,820 KRW, up 16.67% from the previous day. Discussions about the release of the Greenbelt in Seoul have emerged in political circles, and it appears to have been a positive factor that SG Segye Mulsan, an affiliate of the same SG Group, owns 640,000 square meters of Greenbelt land in Bongcheon-dong, Gwanak-gu, Seoul.


Earlier, the ruling party, the Democratic Party of Korea, stated in a conversation with a media outlet that President Moon Jae-in instructed to create housing supply measures, and within the party, options such as Greenbelt release and relocation of public facilities to local areas were proposed and are under consideration.


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Following this news, the stock prices of SG affiliates generally showed an upward trend. SG Segye Mulsan, which owns the land, rose more than 18% to 850 KRW around 12:07 PM on the same day, then showed 755 KRW, up 4.6% from the previous day as of 2:10 PM. At the same time, SG&G (7.75%), SG (0.91%), and others also increased.


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