Shares in AhnLab, a security software provider, rallied on the Seoul bourse on Thursday morning, buoyed by a boost in political fortunes of its founder Ahn Cheol-soo in Wednesday’s elections.
As of 10:35 a.m., the shares were trading at 74,100 won, 5.41 percent higher than the previous close.
Ahn Cheol-soo (Yonhap)
Ahn, a doctor, venture entrepreneur-turned politician, is the largest shareholder in the firm, with an 18.57 percent stake.
His People’s Party has emerged as the third-largest negotiating bloc on Korea’s single-chamber, 300-member parliament, securing 38 seats in Wednesday’s election. Ahn, who also bagged a crushing victory in his own constituency, is considered a potential presidential candidate.
By Lee Sun-young (email@example.com)