[Asia Economy Reporter Minwoo Lee] Seoeam Machinery Industry stock is showing strength. As Hyundai Corporation (formerly Hyundai Corporation), Hyundai Rotem, and others are expected to participate in the 20 trillion won-scale Ukraine high-speed railway project, the track record of parts supply appears to be highlighted.
At 10:10 a.m. on the 19th, Seoeam Machinery Industry's stock price recorded 6,180 won, up 4.04% from the previous day. During the session, it rose as much as 6.06% to 6,300 won. This seems to be driven by expectations of benefiting from the 200 trillion won-scale Ukraine high-speed railway project.
Earlier, the Korea Rail Network Authority signed a business agreement with the Ukrainian Railway Corporation on the 17th at the Korea Rail Network Authority's metropolitan headquarters in Yongsan-gu, Seoul. The project involves building a 2,000-kilometer high-speed railway network in Ukraine. The project cost is estimated at about 18 billion dollars (approximately 20.4 trillion won).
Hyundai Corporation, which has been in contact with the Ukrainian government, is expected to participate along with Hyundai Rotem, the Export-Import Bank of Korea, and the Korea Trade Insurance Corporation. Hyundai Corporation will lead the overall project, Hyundai Rotem will handle construction, and the Export-Import Bank and Korea Trade Insurance Corporation will provide funding.
Previously, Seoeam Machinery Industry exclusively supplied railway gear power devices to Hyundai Rotem through Yujin Machinery. It also domestically localized railway vehicle gear power devices for the first time in Korea.
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