[Special Stock] Woojin Rises on News of Increased Nuclear Power Plant Decommissioning R&D Budget Next Year

[Asia Economy Reporter Eunmo Koo] Woojin has continued its upward trend for three consecutive trading days. The news that the government will conduct a budget feasibility study to expand the budget for nuclear power plant dismantling technology development to 870 billion KRW is interpreted as influencing the stock price of Woojin, which is engaged in the nuclear power plant dismantling business.

As of 11:28 AM on the 16th, Woojin was trading at 3,765 KRW, up 3.58% (130 KRW) from the previous trading day.

On the previous day, the Ministry of Trade, Industry and Energy requested the Ministry of Science and ICT to conduct a budget feasibility review for the 870 billion KRW budget for nuclear power plant dismantling technology development. This is a budget increase 57 times larger than this year’s amount, following the government’s declaration to foster the nuclear power plant dismantling industry early. The budget for nuclear power plant dismantling technology development has expanded from 3 billion KRW in 2019 to about 15.1 billion KRW this year.

Earlier, Woojin entered the radioactive decontamination business by acquiring its subsidiary Nuclear Environment Engineering Development (NEED). NEED completed a pilot test of decontamination equipment domestically last year and conducted a demonstration test on cesium (Cs) removal from radioactive incineration ash in Fukushima, Japan. Additionally, through its subsidiary ‘Woojin Japan,’ it is promoting the commercialization of cesium removal equipment for radioactive incineration ash, and received an evaluation from a Japanese accredited certification body that the contaminated incineration ash decontamination equipment filters out 99% of cesium.