[Featured Stock] Hanwha Ocean Hits New High, Continues 6% Rise in Afternoon Session

Hanwha Ocean, which hit a 52-week high on the morning of the 14th, continued to show a rise of over 6% in the afternoon.

As of 1:48 PM that day, Hanwha Ocean was trading at 47,800 KRW, up 2,650 KRW (5.98%) from the previous close.

The stock opened at 45,350 KRW that day and reached a new 52-week high of 49,400 KRW during the session. Afterwards, some of the gains were given back due to profit-taking selling.

The stock is believed to be strong due to expectations of cooperation with the U.S. government ahead of the inauguration of Donald Trump's second administration.

On the 13th, An Deok-geun, Minister of Trade, Industry and Energy, announced the results of his visit to the U.S. in response to the Trump administration's second term, mentioning shipbuilding cooperation among them.

Minister An said, "The Trump administration is planning deep institutional reforms to strengthen naval power and related shipbuilding industries," adding, "We discussed building a partnership with the U.S. in shipbuilding for both military and commercial purposes."

President-elect Donald Trump also stated on the 6th (local time), "We need ships, but we no longer build them," and added, "We may be able to use allied countries for shipbuilding."