Theme stocks hit limit-up in droves after Oh Se-hoon’s acquittal on appeal in ‘polling costs paid on his behalf’ case [STOCK NOW]

[Financial News] Related theme stocks surged to the upper price limit after Seoul Mayor Oh Se-hoon was acquitted on appeal.
As of 3 p.m. on the 23rd, Jinyang Chemical, classified as an Oh Se-hoon theme stock, was trading at 2,360 won, up 542 won (29.81%) from the previous day. The stock had been weak through the morning but surged to the daily price limit immediately after the acquittal was announced.
At the same time, Jinyang Industry (29.79%) and Jinyang Poly (29.81%) also surged to the upper price limit. These companies were grouped as related stocks because Yang Jun-young, chairman of Jinyang Holdings, is a fellow Korea University alumnus of Mayor Oh.
Meanwhile, Mayor Oh was acquitted on appeal that day in the case involving allegations that opinion poll costs had been paid on his behalf. With the first-instance sentence of a 10 million won fine overturned, Mayor Oh has, for now, escaped the risk of losing his mayoral office.
Criminal Division 7 of the Seoul High Court, presided over by Judge Koo Hoe-geun, overturned the lower court’s ruling sentencing Mayor Oh to a 10 million won fine and acquitted him at the appeal sentencing hearing that day on charges of violating the Political Funds Act.
The court found that “the only direct evidence on the key issue in this case is Myeong Tae-gyun’s testimony, but it is generally inconsistent and contains many points that conflict with objective circumstances, making it difficult to believe as presented.”
 
[email protected] Joo Won-gyu Reporter