[Featured Stock] Hanwha Ocean's Stock Soars on Expectations for US Navy Ship MRO Business

On the 14th, Hanwha Ocean's stock price surged in the stock market due to expectations of winning contracts for the U.S. Navy ship maintenance, repair, and overhaul (MRO) business.

Kim Dong-kwan, Vice Chairman of Hanwha Group, and Commander of the U.S. Navy Pacific Fleet

As of 2:05 PM that day, Hanwha Ocean was trading at 37,650 KRW, up 11.39% from the previous day's closing price. The stock started the session with an upward trend and continued to expand its gains throughout the day.

After former President Donald Trump's election as the next U.S. president became almost certain, Hanwha Ocean's stock price soared by 21.76% in a single day on the 7th. It continued its upward trend with gains of around 6% on the 8th and about 3% on the 11th, before experiencing some price correction over the past two days due to valuation concerns.

However, as it is nearly certain that Hanwha Ocean will continue to secure contracts for the U.S. Navy ship MRO business, the stock price is once again surging.

According to industry sources, Hanwha Ocean recently won a contract for the regular repair of the USNS Yukon, a replenishment ship assigned to the U.S. Navy's 7th Fleet.

With President-elect Trump emphasizing cooperation with Korean shipbuilders regarding U.S. naval power, domestic shipbuilders are expected to benefit.

Accordingly, Hanwha Ocean's MRO business orders are expected to continue increasing.