[Edaily Reporter Park Sun-Yeop ] Amid a decline in the domestic stock market last week, theme stocks surged, driven more by positive online stories and expectations for regional development than by corporate earnings or new orders. Buying interest flooded into stocks tied to the Honam region even before specific business plans for the Honam semiconductor cluster were announced, and HansungEnterprise, which garnered attention for a positive online story, saw its stock price double in just one week.
According to the Korea Exchange on the 12th, over the past week (July 6–10), HansungEnterprise(003680)rose 100.00%, ranking first in returns among all listed stocks. The stock price, which stood at 4,230 won on the 3rd, exactly doubled to 8,460 won on the 10th.

HansungEnterprise, a seafood processing company, saw a wave of support spread across online communities after concerns arose that it might fall short of the market capitalization requirements under stricter listing maintenance criteria. As heartwarming stories—such as the company’s history of hosting concerts for war veterans—came to light, buying momentum characterized as “supportive investing” is believed to have driven the surge. However, no new earnings reports, order announcements, or official disclosures were released to substantiate the stock price increase.
Shares of companies with regional ties also surged across the board following news of the government’s push to develop a semiconductor cluster in the Honam region. KumhoElectric(001210)rose 79.62% over the week, while KUMHOE&C(002990)climbed 77.05%, ranking second and third in terms of return. Seo San Co. Ltd.(079650), a Gwangju-based concrete company, rose 72.49%, while KUMHOTIRECO.,INC(073240)climbed 64.56%. KUMHOE&C(1P)(002995)and GwangjuShinsegae(037710)also rose 34.80% and 28.02%, respectively.
This stands in contrast to the KOSPI, which fell 7.57%, and the KOSDAQ Index, which dropped 3.57%, during the same period. Trading volume also increased significantly. Weekly trading value for KUMHOE&C reached 1.5218 trillion won, while KUMHOTIRECO.,INC and KumhoElectric saw trading volumes of 609.2 billion won and 433.4 billion won, respectively.
After the government announced its decision to designate the Gwangju Military Airport site as the location for the Honam Region semiconductor cluster and its plan to accelerate the project, companies with business operations or real estate in the vicinity were grouped as beneficiary stocks. In particular, buying interest concentrated on stocks with relatively small market capitalizations, causing share prices to fluctuate sharply despite limited capital inflows.
Market warnings followed in the wake of the stock price surge. The Korea Exchange designated KUMHOE&C and KUMHOE&C(1P) as “Investment Caution” and “Investment Warning” stocks, respectively, and warned that they could be designated as “Investment Risk” stocks if prices continued to rise. KUMHOE&C(1P) continued its sharp rise even after being designated an “Investment Warning” stock, leading to a trading suspension on the 2nd.
Buying by retail investors was also concentrated. Retail investors made net purchases of 34.85 billion won worth of KUMHOTIRECO.,INC last week, ranking it 8th among all individual stocks in terms of net buying. In contrast, foreign and institutional investors made net sales of 14.59 billion won and 15.96 billion won, respectively, during the same period.

In the case of KUMHOTIRECO.,INC, in addition to its regional ties, the asset value of the Gwangju plant site emerged as a catalyst for the stock price rise. Yoo Ji-woong, an analyst at Daol Investment & Securities, analyzed that the recent talk of attracting large-scale investments from major corporations to the Gwangju region is “a factor that could accelerate the final relocation of the Gwangju plant.”
According to Daol Investment & Securities, the Gwangju plant site was previously valued at approximately 1 trillion won, but the sale fell through as its actual value—excluding relocation costs—was estimated to be around 200 billion won. However, since the calculation of relocation costs has now been largely completed, it is assessed that the value of the Gwangju plant site alone could account for a significant portion of KUMHOTIRECO.,INC’s market capitalization.
However, it is unlikely that the sale of the site will materialize in the short term. Daol Investment & Securities projected that the Hampyeong Plant, which will take over production from the Gwangju Plant, will begin producing approximately 5.3 million tires annually starting in 2028. This implies that discussions on the site’s utilization will only gain momentum once the Hampyeong Plant’s production capacity is expanded and the transfer of remaining production from the Gwangju Plant begins in earnest.
Lim Eun-young, an analyst at SamsungSecurities, also noted that interest in the value of the nearby Gwangju plant site has grown as the Gwangju Airport site is being cited as a leading candidate for the Honam semiconductor investment plan. Analyst Lim analyzed, “If the investment details are finalized, there is potential for an increase in the site’s value and a faster sale process.” However, she reported that KUMHOTIRECO.,INC maintains the position that there is no need to rush the sale of the site.
Even among stocks with ties to the Honam region, stock price trends diverged. Namhwa Industrial Co.,Ltd(111710)and Nam Hwa Construction Company, Limited(091590)fell 7.71% and 6.21%, respectively, last week, and BohaeBrewery(000890)also dropped 1.69%. This suggests that not all stocks rose in unison simply because of their regional ties.
There have been numerous instances in the past where theme stocks surged sharply in the short term only to give back most of their gains. INNO INSTRUMENT(215790), which emerged as a beneficiary of AI infrastructure in March and April, soared to 5,080 won at one point but fell to 939 won on the 10th, marking a decline of more than 80% from its peak. AUK(017900), GIGALANE Co., Ltd.(049080), and LIGHTRON FIBER-OPTIC DEVICES(069540) are also currently trading at levels 70–80% below their respective peaks.
However, securities analysts advise that, since the scale of investment and the procurement methods for the Honam Region semiconductor cluster have not yet been finalized, it remains to be seen whether regional ties will actually translate into sales and orders. While some stocks, such as KUMHOTIRECO.,INC, have factors that could lead to a revaluation of their asset value, those that have surged sharply in the short term based solely on expectations are likely to quickly give up their gains if projects are delayed or plans are scaled back.