[Featured Stock] Korea Aerospace Industries Hits Year-to-Date High Amid K-Defense Export Optimism

Korea Aerospace Industries (KAI) is showing an upward trend in the stock market on the 29th. With growing expectations for K-defense exports, the stock price has recently risen consecutively, reaching a yearly high.

Model of Korea Aerospace Industries' LUH light utility helicopter

As of 2:50 PM on the same day, KAI's stock price stood at 57,500 KRW, up 3.79% from the previous closing price. The stock began rising early in the session and maintained an upward trend throughout the day, hitting a yearly high. However, after 2:37 PM, it experienced a sharp correction, giving back a significant portion of its gains.

The buying momentum is interpreted as being driven by government expectations for the development of the aerospace and space industries and defense exports.

On this day, the Space Agency announced plans to collaborate with the Korea Aerospace Research Institute, KAI, Hanwha Aerospace, Innospace, and Perigee Aerospace to develop reusable launch vehicles.

Additionally, a 1.7 trillion KRW export contract for the Middle East Surion helicopter and ongoing negotiations for the export of FA-50 aircraft to Uzbekistan worth 1.1 trillion KRW are underway, raising expectations for a large-scale order announcement soon.