Kangwon Land, which also has a ski resort and golf course, rallied as much as 9.5 percent before trading 3.1 percent higher at 30,000 won as of 10:19 a.m. in Seoul.Hosting the 2018 Winter Olympics will directly add 21.1 trillion won ($19.8 billion) to the South Korean economy, Hyundai Research Institute said in a report published this week.
Builders Rise
Stocks of South Korean builders also advanced on speculation the sporting event will help boost domestic orders.
Hyundai Engineering & Construction Co. rose 2.3 percent, GS Engineering & Construction Corp. gained 2.7 percent and Samsung C&T Corp. climbed 2.3 percent.
Ssangyong Cement Industrial Co. added 4.9 percent.
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