[Featured Stock] Iljin Power, the Best Weapon Against Climate Change... Rising Need for Nuclear Power in Europe

[Asia Economy Reporter Yoo Hyun-seok] Iljin Power is showing strong performance. It appears that the news about 16 economic and energy ministers from 10 European countries jointly emphasizing the importance of nuclear power in Europe through an op-ed published in newspapers across Europe is influencing the stock price.

As of 10:17 AM on the 13th, Iljin Power was trading at 13,000 KRW, up 17.12% (1,900 KRW) compared to the previous trading day.

According to the nuclear industry specialized magazine World Nuclear News (WNN) on the 11th (local time), ministers from 10 European countries including France and Finland published an op-ed titled "We Europeans Need Nuclear Power" in French daily Le Figaro and Spanish daily El Pa?s, among others.

The 16 ministers emphasized in the op-ed that at a time when the threat of climate change makes the transition to a low-carbon society urgent, nuclear power is "the best weapon we have" to address climate change.

They stated, "While renewable energy also plays a key role in the energy transition process, other carbon-free power sources are necessary," and added, "To continuously meet energy demand, nuclear power is essential."

They further explained, "Nuclear power already accounts for half of the electricity generated in Europe without carbon emissions."

The 16 ministers participating in the joint op-ed include Bruno Le Maire, France's Minister of Economy and Finance, as well as economic or energy ministers from Finland, Czech Republic, Poland, Hungary, Romania, Slovakia, Croatia, Slovenia, and Bulgaria.

Meanwhile, French President Emmanuel Macron announced on the 12th that he will invest 1 billion euros (approximately 1.38 trillion KRW) in nuclear power innovation by 2030.

At the announcement of the massive national investment blueprint called 'France 2030,' President Macron said, "Our number one goal is to build innovative small modular reactors along with improved nuclear waste management before 2030."