[Edaily Reporter Shin Ha-yeon ] Dongyang ( TONGYANG(001520)), a KOSPI-listed affiliate of the Eugene Group, is trading up by over 4% on news that it is launching its new artificial intelligence data center (AIDC) business in earnest and pushing forward with five projects in the Seoul metropolitan area.

According to MP Doctor on the 11th, as of 1:59 p.m. today, TONGYANG is trading at 1,175 won, up 4.91% from the previous trading day. During the session, the stock rose as high as 1,179 won, a 5.27% increase from the previous close.

Today, TONGYANG announced that it is expanding its AIDC development business based on its experience in developing sites in the Seoul metropolitan area and the group’s project financing (PF) capabilities.

Construction on the first project, the Bucheon Samjeong AI Hub Center (with a power capacity of 9.8 MW and an IT load of 7 MW), began last May using the latest liquid cooling solution (LCS), and work is proceeding smoothly. The second project, the Incheon Guwol AI Hub Center, has completed administrative procedures and obtained building permits and is scheduled to break ground within this year.

In addition, the company is pursuing three more AIDC projects within the Seoul metropolitan area. If the projects—which are slated to break ground this year—are completed sequentially within three years, the value of the related assets is projected to reach approximately 1 trillion won.

Meanwhile, CEO Jeong Jin-hak and other key executives announced that they have been purchasing the company’s shares on the open market since last month, acquiring a total of 757,126 shares.