Corrugated Packaging Leader Surges Over 2 Trillion Won in a Day

International Paper Co. (NYSE: IP) surged 8.48% on the New York Stock Exchange on February 10, closing at $34.55 per share. Its market capitalization jumped to about $18.2 billion (roughly KRW 28 trillion), adding some $1.7 billion (KRW 2.6 trillion) in a single day, on trading volume of 4.51 million shares.

Recently, the company has expanded its North American corrugated packaging capacity through acquisitions of North Pacific Paper Company and Delmarva Corrugated Packaging, targeting cost savings and service improvements from integration. In January, it raised further expectations for a strategic realignment by announcing plans to spin off its European packaging division into two independent publicly traded companies.

Headquartered in Memphis, Tennessee, International Paper is one of the world’s largest pulp, paper and corrugated packaging manufacturers, commanding about one-third of the North American corrugated packaging market. The firm has shifted its focus from traditional printing papers to eco-friendly fiber-based packaging and grown substantially through major M&A deals—most notably the acquisition of DS Smith—cementing its status as a leading global packaging player.