[Featured Stock] Doosan Enerbility Rises 6% on Strengthened Korea-US Nuclear Cooperation

Korea and the United States Sign MOU on Nuclear Power Export
Rises Over 6 Percent, Surpassing 20,000 KRW
Dispute Between KHNP and Westinghouse Expected to End

Doosan Enerbility is showing strong performance. It appears to be influenced by the news that the governments of Korea and the United States have formed a 'nuclear power alliance.'

As of 10:02 AM on the 10th, Doosan Enerbility is trading at 20,050 KRW, up 6.48% (1,220 KRW) from the previous trading day. This is the first time since December 4th last year (intraday high of 20,900 KRW) that Doosan Enerbility's stock price has surpassed 20,000 KRW.

On the 8th (local time in the U.S.), the two countries signed a Memorandum of Understanding (MOU) between agencies regarding principles for nuclear power export and cooperation. This formal signing took place two months after a preliminary agreement in November last year. The Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs of Korea, along with the U.S. Department of Energy and the Department of State, are the parties involved. The two countries stated, "The Republic of Korea and the United States have cooperated in the civilian nuclear sector for over 70 years, and the foundation of this cooperation reflects the mutual commitment of both countries to maximize the peaceful use of nuclear energy based on the highest standards of nuclear safety, security, safeguards, and non-proliferation."

Notably, this MOU was announced amid the dispute over the Czech nuclear power plant export. In 2022, Westinghouse in the U.S. filed a lawsuit against Korea Hydro & Nuclear Power (KHNP) in a U.S. court, claiming that its proprietary technology was applied. Additionally, when the KHNP consortium (KHNP, Doosan Enerbility, Daewoo Engineering & Construction) was selected as the preferred negotiator for the two-unit Czech nuclear power plant project, Westinghouse raised objections. With the signing of the MOU, it is expected that the dispute between the two organizations will soon come to an end.