Harim Holdings Poised for Second Consecutive Limit-Up on Yangje Land Development Bet

Harim Holdings, which is pursuing a large-scale advanced urban logistics complex development on the former freight terminal site in Yangjae-dong, Seoul, is showing signs of a sharp stock price surge. Shares of companies holding prime real estate in key Seoul locations, including Chunil Express and Dongyang Express, have been rallying for consecutive days.

According to alternative exchange NextTrade (NXT) on Monday, Harim Holdings shares were trading at 14,640 won in the pre-market session, up 26.97% from the previous trading day. This follows Friday's limit-up gain of 29.99%, when the stock rose from 8,870 won to 11,530 won, signaling a potential second consecutive limit-up.

The surge comes as Harim Holdings is pursuing a mixed-use complex development combining logistics, residential, and office facilities on the freight terminal site in Yangjae-dong, Seocho-gu, through its wholly-owned subsidiary Harim Industrial. The plan calls for an advanced logistics complex spanning eight basement levels to 59 floors above ground, along with residential facilities including apartments and officetels.

The rally has also been fueled by renewed attention on the Seoul Express Bus Terminal redevelopment plan, which has triggered a broad surge in land asset stocks. Shares of KCTC, which owns a large logistics center site in the Yangjae-dong area, rose 19.81% on Friday. The company is seen as a beneficiary of Gangnam development amid discussions of undergrounding the Gyeongbu Expressway.

Sampyo Cement, which holds a ready-mix concrete plant site in Seongsu-dong, Seoul, also surged 29.94%. A 79-story mixed-use complex with office, residential, and commercial facilities is planned for the site. Sampyo Industries acquired the land from Hyundai Steel in September 2022 for 43 million won per pyeong, and land prices in Seongsu-dong have reportedly risen to 200 million won per pyeong.

Lotte Chilsung also gained 9.38% on reports that the company is pursuing a development project on its site in Seocho-dong, Seoul. Lotte Chilsung owns a 43,438-square-meter (approximately 13,000 pyeong) beverage logistics center site between Seocho Station and Gyodae Station. The property is known as the last prime land parcel in the Gangnam area.