Two South Korean bicycle makers saw their stocks rise on Wednesday despite an overall loss by the market that day.
Samculy Bicycle jumped 10.58 percent and Very Good Leisure rose 5.2 percent, according to TradingMarkets.com. This in spite of a 8.24 percent loss by the Kosdaq market.
The increase is believed to be driven by the Seoul city government announcing plans to build 129 miles of bike paths throughout South Korean over the next four years.
The city wants to increase the woeful lack of bicycling commuting — 1.6 percent — to about 4.4 percent of commuters by 2010.
South Korea is one of the largest bicycle exporters in the world.
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