[Featured Stock] "Attention on Daewoo E&C's Potential to Win Czech Nuclear Power Plant Contract," Up Over 8%

A view of Dukovany, the planned site for a new nuclear power plant in the Czech Republic.
[Image source=Yonhap News]

“Team Korea,” composed of Korean companies, was selected as the preferred negotiator for the new nuclear power plant construction project in the Czech Republic, leading to a strong performance in the stock price of Daewoo E&C, a participant in the Team Korea consortium, on the 18th.

As of 9:13 a.m. that day, Daewoo E&C was trading at 4,535 KRW, up 355 KRW (8.49%) from the previous trading day. Early in the session, the stock price surged as much as 18.78% to 4,965 KRW.

According to the Ministry of Trade, Industry and Energy, the Czech government held a meeting at the Prague government office the previous day and announced that Korea Hydro & Nuclear Power was selected as the preferred negotiator for the new nuclear power plant construction project in the Czech Republic. This marks Korea’s first nuclear power plant order in 15 years since the Barakah nuclear power plant in the United Arab Emirates (UAE) in 2009.

Daishin Securities maintained a buy rating and a target price of 6,000 KRW for Daewoo E&C. On the same day, Lee Taehwan, a researcher at Daishin Securities, said, “If Daewoo E&C wins the 30 trillion KRW Czech new nuclear power plant project, it will be the company’s first overseas large-scale nuclear power export case. This will serve as a basis for value-up through strengthening competitiveness in the nuclear power business,” adding, “Daewoo E&C aims to become a comprehensive solution company in seven nuclear power fields.”