[Hot Stock] Jeryong Industry Rises on Additional $2.6 Billion Investment in US DOE Transmission Project

Jeryong Industry is showing strong performance. This is interpreted as being influenced by the news that the U.S. Department of Energy (DOE) will invest an additional $2 billion (approximately 2.6 trillion KRW) to expand power transmission.

As of 2 PM on the 21st, Jeryong Industry is trading at 6,540 KRW, up 4.81% compared to the previous day.

According to industry sources, the U.S. DOE announced on the 18th (local time) that it will invest an additional $2 billion (approximately 2.6 trillion KRW) in 38 projects across 42 states to protect the power grid from increasing threats of extreme weather and to expand transmission.

As part of the "Investing in America" agenda, this project will upgrade about 1,000 miles (approximately 1,609.344 km) of transmission lines, increase grid capacity to meet rising electricity demand, and provide thousands of jobs.

Meanwhile, Jeryong Industry is a company that manufactures and sells transmission materials, distribution materials, and underground line materials. Its business divisions are divided into the metal products sector for transmission, distribution, communication, and railway catenary fittings, and the synthetic resin products sector for processed and underground distribution resin products.