[Special Stock] HD Hanguk Joseon Haeyang Hits 52-Week High on US Congress 'Shipbuilding Industry Strengthening Bill'

Reaffirming the US Commitment to Check China
Incentives Expected from US Shipbuilding Legislation

HD Korea Shipbuilding & Offshore Engineering recorded a 52-week high. The stock price appears to be influenced by the emerging outlook that Korean shipbuilding companies will benefit from the U.S. Congress's legislation to strengthen the shipbuilding industry.

As of 9:18 a.m. on the 23rd, HD Korea Shipbuilding & Offshore Engineering was trading at 225,500 KRW, up 6.12% (13,000 KRW) from the previous trading day. This surpassed the one-year high of 219,000 KRW recorded on November 27. Another shipbuilding affiliate of HD Hyundai Group, HD Hyundai Mipo, also recorded a 52-week high, rising 1.44% to 140,900 KRW.

On the 19th (local time), the U.S. Congress introduced the "American Shipbuilding and Port Infrastructure Prosperity and Security Act," aimed at strengthening the competitiveness of the domestic shipbuilding industry in cooperation with allied countries. The core objective is to boost the U.S. shipbuilding industry and reduce dependence on Chinese vessels.

With the U.S. government's consistent stance on "containing China" confirmed in the shipbuilding sector, there is a forecast that Korea will gain reciprocal benefits. Kang Kyung-tae, a researcher at Korea Investment & Securities, stated, "The domestic shipbuilding industry is expected to benefit by securing orders for newbuilds or MRO (Maintenance, Repair, and Overhaul) work for strategic merchant fleets participating in the program," adding, "They are also expected to receive investment incentives within the U.S."