Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.
Shinsegae-related stocks soar following chairman's meeting with Trump
Shinsegae Group Chairman Chung Yong-jin, center, responds to questions from reporters at Incheon International Airport, Sunday, as he returned home from the United States. Yonhap
By Jun Ji-hye
Shares related to Shinsegae Group surged, buoyed by news that its chairman, Chung Yong-jin, became the first among Korean politicians, diplomats or business leaders to officially hold a face-to-face meeting with U.S. President-elect Donald Trump since his reelection last month.
According to the Korea Exchange, Monday, Shinsegae I&C rose 30 percent from the previous trading day to reach 14,040 won ($9.67).
Other Shinsegae-related stocks also showed gains, with Shinsegae Food up 23.59 percent, E-Mart up 5.78 percent, Shinsegae International up 2.94 percent and Shinsegae up 1.13 percent.
On Saturday (local time), while returning to Korea via Hartsfield-Jackson Atlanta International Airport, Chung said in an interview with Korean reporters that he had met with Trump at the president-elect’s Mar-a-Lago resort in Florida and engaged in an “in-depth conversation” for about 10 to 15 minutes.
Chung, however, declined to disclose what he had discussed with Trump.
The Shinsegae chairman visited the United States upon the invitation of Donald Trump Jr., the president-elect’s oldest son, staying at the Mar-a-Lago resort for six days beginning Dec. 16.
The Korean businessman also confirmed his meeting with Tesla CEO Elon Musk, who was nominated to lead the Department of Government Efficiency under the Trump administration.