May 20, 2022

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Stocks surge in South Korea on hopes of renewed inter-Korean projects

Some firms linked to tourism and manufacturing in DPRK see double-digit growth following news of reconnected hotlines

The stock prices of several major companies linked to inter-Korean projects increased sharply on Tuesday following the news that North and South Korea had reestablished key communication channels.

Investors appeared to eye the possibility of new construction and tourism opportunities stemming from increased inter-Korean economic cooperation, which has been practically dormant since Seoul-Pyongyang ties soured in 2019.