[Featured Stock] Daewoo Shipbuilding & Marine Engineering Soars Up to 11% Intraday Amid Hanwha Sale Rumors

[Asia Economy Reporter Kwon Jae-hee] Daewoo Shipbuilding & Marine Engineering is showing a strong gain of over 5% following news of its sale to Hanwha.

As of 10:51 AM on the 26th, Daewoo Shipbuilding & Marine Engineering is trading at 23,150 KRW on the KOSPI market, up 5.23% compared to the previous trading day. During the session, the stock rose as much as 11.82% to 24,600 KRW before giving up some of the gains.

On the same day, the Ministry of Economy and Finance, the Ministry of Trade, Industry and Energy, and the Financial Services Commission held a meeting of ministers related to strengthening industrial competitiveness at the Export-Import Bank in Yeouido to discuss the handling plan for Daewoo Shipbuilding & Marine Engineering. It is reported that at this meeting, Kang Seok-hoon, chairman of the Korea Development Bank, presented a proposal on the handling direction of Daewoo Shipbuilding, including the option to sell it to Hanwha Group.