LegoChem Bio, LIG Defense Fall Despite National Growth Fund Investment News
Shares initially rallied on news that the National Growth Fund would invest in LegoChem Biosciences and LIG Defense & Aerospace, but reversed sharply once the details emerged. LegoChem Bio dropped more than 10% to around the 140,000-won level. The structure involved a third-party allotment of 330 billion won in convertible preferred stock — 160 billion won from the Korea Development Bank and 125 billion won from Orion Holdings — with a conversion price of 149,300 won and a payment date of July 24.
Hosts noted it was abnormal for the stock to trade below that conversion price, which effectively functions as a floor implicitly endorsed by the government and major investors. They speculated the market may have interpreted the debt-like structure as a signal of cash-flow concerns, though LegoChem Bio itself said same-day that its cash position was sound and the funding was for proactive investment.
Semiconductor equipment makers rallied on optimism around the Gwangju-Jeonnam cluster: TES rose about 10%, PSK about 7%, and Wonik IPS about 6%, with intraday highs of roughly 12% and 7% respectively. Among Kosdaq large caps, chip-equipment names were among the few holding up against the broader selloff.
Regional theme plays in Honam also surged, with Gwangju Shinsegae and Kumho Group affiliates hitting the daily upper limit and Kumho Tire jumping more than 21%. Hosts advised screening such names on three criteria — profitability, relatively low price-to-book, and a genuine direct link to the investment story — warning against chasing speculative names connected by only a loose, two-steps-removed association.
Department store and cosmetics names were flagged as beneficiaries of the inbound tourism boom; even amid the broad selloff, department store shares briefly held gains of about 5% intraday. Hosts urged investors to identify domestic defensive alternatives the way U.S. investors rotate into healthcare when tech sells off.