[Featured Stock] Airut Highlights Participation of Woojin Industrial in UAE Nuclear Project Amid Japan's Nuclear Reactor Restart Push

[Asia Economy Reporter Minwoo Lee] Airuteu's stock price is on the rise. As the Japanese political sphere expressed intentions to restart nuclear power plants, it has come to light that its affiliate Woojin Electric participated in the United Arab Emirates (UAE) nuclear power project, highlighting it as a beneficiary stock of the nuclear power sector.

At 10:08 AM on the 15th, Airuteu's stock price recorded 790 won, up 11.58% compared to the previous day. Amid the news of Japan's nuclear power plant restarts, Woojin Electric's track record in nuclear power projects appears to have acted as a positive factor.

Earlier, Akira Amari, the secretary-general known as a key figure in Japan's ruling Liberal Democratic Party, stated in an interview with Nihon Keizai Shimbun on the 13th that aging nuclear power plants, which were shut down after the Fukushima nuclear accident caused by the 2011 Great East Japan Earthquake, should be restarted and that small modular reactors (SMRs) should be commercialized and rebuilt.

Japanese Prime Minister Fumio Kishida also recently expressed his intention to continue promoting the restart of nuclear power plants that have been shut down since the March 2011 Great East Japan Earthquake. Prime Minister Kishida is scheduled to inspect the Fukushima Daiichi Nuclear Power Plant on the 17th.

Woojin Electric, an industrial power integrated platform company, installed 31 units of 400kV transformers for the UAE nuclear power project commissioned by Hyundai Heavy Industries. The company explained, "We successfully carried out the UAE nuclear power transformer installation project with excellent quality and technology," adding, "Building on this, we are actively expanding overseas projects in Nigeria, Bangladesh, Malaysia, and Myanmar."

Meanwhile, in June, Airuteu acquired all of the 30.07% stake in Woojin Holdings held by its subsidiary Gionics. Woojin Holdings holds 100% of the shares of Woojin Electric.