Sempyo, a grain-related stock, is on the rise.
According to the Korea Exchange on the 16th, as of 11:19 am on the 16th, Sempyo is trading at 74,600 won, up 8,900 won (13.53%) from the previous trading day.
U.S. President Joe Biden has announced that he will build temporary warehouses to distribute grain from Ukraine to Europe amid the global food crisis.
“We are working closely with our European partners to bring the 20 million tonnes of grain tied up in Ukraine to the market and lower food prices,” Biden said in a speech at the American Federation of Labor (AFL-CIO) meeting in Philadelphia on the 14th (local time). “He said.
“Ukraine has the same rail spacing as Russia, which is different from Europe,” he said, noting the difficulty of transporting grain by rail. “, he added.
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