Travel and resort stocks with interests in North Korea rallied Tuesday upon hopes that tourism program could be renewed around Mount Kumgang as the first revived inter-Korean economic venture upon the results of next week’s summit meeting between North Korean leader Kim Jong-un and U.S. President Donald Trump.

Kospi-listed Hanchang Corporation saw the sharpest rise of 30 percent in stock price. It engages in fire prevention, hotel management and property development business and is preparing a ferry ship operation between two Koreas and Russia and China in cooperation with Gangwon Province. The stocks closed 30 percent higher at 2,860 won.

In the secondary Kosdaq market, Panstar Enterprise Co. shares soared 29.89 percent to 1,095 won. It will start servicing cruise ship routes from Korea to Japan and Russia from April.

Hotel and resort operator Ananti Inc. added 9.88 percent, and another resort operator Daemyung Corporation gained 3.83 percent. Ananti is the only company in the world that owns management rights of a resort in the North. It opened a luxury resort including a golf course and spa in Mt. Kumgang in 2008.

The rally was sparked by a comment from President Moon Jae-in on Monday during religious leaders. “If the inter-Korean economic cooperation starts, Mt. Kumgang tour would become the first project,” he told the guests.

The tour program to Mt. Kumgang has been halted since 2008 when a South Korean tourist was killed in a fatal shooting by a North Korean soldier. Any revival in inter-Korean ventures can be possible under U.S.-led easing in international sanctions on North Korea. Trump and Kim will meet next week in Vietnam for their second summit.

By Chung Seul-gi and Lee Ha-yeon

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