[Featured Stock] Hyundai Rotem Nears Export to Norway... Up Over 7%

▲Hyundai Rotem's K2 tank

[Asia Economy Reporter Kwon Jae-hee] Hyundai Rotem is showing a strong gain of over 7% in the early trading session on the 21st. This comes as expectations rise following the export of K2 tanks to Poland and the anticipated export to Norway.

According to the Korea Exchange on the 21st, as of 10:05 AM, Hyundai Rotem was trading at 29,300 KRW on the KOSPI market, up 7.13% compared to the previous trading day.

The strong performance of Hyundai Rotem's stock is attributed to the anticipation of exporting K2 tanks to Norway. It is reported that Hyundai Rotem is currently negotiating a plan to export K2 tanks to Norway through technology transfer. Hyundai Rotem has already exported approximately 1,000 K2 tanks to Poland, making the achievement of annual sales of 1 trillion KRW a foregone conclusion.

Meanwhile, Hyundai Rotem's order backlog for the third quarter recorded 8.0401 trillion KRW in the railway sector and 6.0941 trillion KRW in the defense sector. Compared to the same period last year, when the railway sector was 6.9237 trillion KRW and the defense sector was 1.6781 trillion KRW, the defense sector has increased more than fourfold.