Daeyang Electric Industries is showing strong performance. This is interpreted as being influenced by the news that the Korea National Oil Corporation has launched a bidding process to select submersibles and other equipment for exploration in the East Sea 'Daewanggorae-1' area, where an estimated 14 billion barrels of oil and gas are believed to be deposited.
As of 1:30 PM on the 4th, Daeyang Electric Industries is trading at 18,300 KRW, up 12.2% compared to the previous day.
According to industry sources, the Korea National Oil Corporation has initiated a bidding process to select supervisors, helicopters, submersibles, and other equipment for exploration in the 'Daewanggorae-1' area, spanning the domestic East Sea 8th block and the northern part of the 6-1 block.
The unmanned submersible for drilling exploration is an unmanned underwater robot connected by a long-distance cable. It is deployed in deep-sea oil exploration drilling and also substitutes for humans when drilling facilities malfunction. The unmanned submersible is equipped with various sensors, cameras, and robotic arms, enabling it to perform monitoring, repairs, welding, and sample collection activities.
This exploration requires drilling at least five wells, with an estimated cost of about 100 billion KRW per well. The 14 billion barrels presumed to be buried in this gas field amount to enough natural gas to supply the entire country for up to 29 years and oil for up to 4 years.
Meanwhile, Daeyang Electric Industries is a designated defense supplier delivering various onboard and external communication equipment and distribution panels to the navy. In the underwater systems field, it has independently developed autonomous navigation unmanned mine disposal robots (MDV) and deep-sea unmanned submersibles. Recently, it also signed a joint technology development agreement (MOA) for export-type unmanned submersibles with HD Hyundai Heavy Industries.
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