[Featured Stock] Joseon Shares Rise on Expectations of Benefits from Trump's Election Victory

Shipbuilding stocks are showing strength on expectations of benefits following the election of former President Donald Trump.

As of 9:43 a.m. on the 7th, HD Hyundai Heavy Industries is trading at 204,000 KRW, up 22,900 KRW (12.64%) compared to the previous day. Along with this, HD Hyundai Korea Shipbuilding & Offshore Engineering is up 5.01%, Hanwha Ocean 10.07%, Samsung Heavy Industries 5.95%, and HD Hyundai Mipo 5.91%.

Shipbuilding stocks are considered beneficiaries of Trump's election. Kim Dae-jun, a researcher at Korea Investment & Securities, said, "(With Trump's election) major industries such as infrastructure, defense, pharmaceuticals & bio, shipbuilding, and finance are expected to perform strongly," adding, "Shipbuilding will respond to repair and maintenance demand within the United States."

In particular, during a phone call this morning between President Yoon Suk-yeol and President-elect Trump, Trump mentioned that "the U.S. shipbuilding industry needs help and cooperation from Korea," which boosted shipbuilding stock prices.