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[Alpha Biz=(Chicago) Reporter Paul Lee] Investors are deeply troubled as Hanwha Galleria's stock price, which was split from Hanwha Solution, fell helplessly.
As one of the new businesses, the stock price has not been strong despite the success of the U.S. hamburger brand "Five Guys," which attracted it in Korea. Stock market analysts say it is difficult to expect a meaningful rebound in stock prices for the time being as earnings concerns are growing over its main department store business due to the worsening consumer economy caused by the economic slump.
According to Market Point on the 1st, Hanwha Galleria's stock price has fallen 50.34% since it was re-listed on the stock market on March 31.
Hanwha Galleria is a new corporation that was spun off from Hanwha Solution in March. It split two years after its merger with Hanwha Solution in April 2021, and is said to be an opportunity to verify the management ability of Kim Dong-sun, head of Hanwha Galleria Strategy Division, the third son of Hanwha Group Chairman Kim Seung-yeon.
In fact, Kim introduced Hanwha Galleria's first new business, Five Wise, in Korea, and recently signed a business agreement with Hanwha Robotics.
However, despite Kim's brisk management moves, Hanwha Galleria's stock price has not been strong. Hanwha Galleria's stock price has been on the decline for seven months since its initial price of KRW 2,080 on the first day of the split listing on March 31. On the 24th of last month, it fell to 993 won in the market and fell to 'Penny stock’' for a while.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
