"Let's Save This Patriotic Company"... Shares Surge 23% Amid Delisting Fears

Monami, a leading domestic stationery manufacturer, is facing a wave of support from individual investors following news that it is at risk of being delisted from the stock market.

As the sentiment that "the people's ballpoint pen must be protected by the people" gains momentum, Monami's stock price soared by more than 20 percent during trading on July 10.

While Monami is a company known for its "national ballpoint pen" that almost everyone has used at least once, it has experienced a slump in its stationery business over the past three years due to factors such as a declining school-age population.

In particular, as the Korea Exchange raised the market capitalization threshold for delisting from the KOSPI from 20 billion won to 30 billion won starting in July to strengthen the soundness of the capital market, Monami faced the threat of delisting.

Monami's market capitalization stood at 24.8 billion won on July 7 and 25.9 billion won on July 8, falling below the new criteria.

However, as buying by individual investors continued, the stock hit the daily upper limit on July 9. On July 10, it traded at around 2,100 won, up approximately 23 percent from the previous trading day, pushing its market capitalization above 40 billion won.

Investors are expressing hope that the case of Hansung Enterprise, which recently gained attention as a "patriotic company," could be repeated with Monami.

Hansung Enterprise, which faced the possibility of delisting due to recent poor performance, saw a wave of "supportive buying" from netizens after it was highlighted online that the company had been sponsoring the "Concert for Heroes" for Korean War veterans for 25 years.

As support from investors for Monami continued, Song Jae-hwa, CEO of Monami, released a handwritten letter on the company's official social media.

"I feel deeply moved and carry a heavy sense of responsibility as I see the wave of support for Monami spreading online," CEO Song said, expressing gratitude.

"We will use this position you have protected as a stepping stone to repay you with better products and sincere quality," he added.

Reported by An Hyemin | Video by Na Hong-hee | Graphics by Lee Jeong-ju | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.