[Special Stock] Joil Aluminum Surges on Trump's 25% Tariff Announcement

U.S. President Donald Trump’s announcement of a 25% tariff on all steel and aluminum products imported into the United States has led to a surge in related stocks, including Joil Aluminum.

As of 9:31 a.m. on the 10th, Joil Aluminum’s stock price was trading at 1,646 KRW, up 7.93% compared to the previous day.

Earlier, on the 9th local time, President Trump announced to reporters aboard the plane heading to New Orleans for the NFL Super Bowl that a 25% tariff would be imposed on steel and aluminum entering the U.S. The market interpreted this move as essentially targeting China.

During Trump’s first term, a 25% tariff on steel and a 10% tariff on aluminum were also imposed, followed by negotiations with Canada, Mexico, the European Union (EU), and South Korea to apply an import quota system.

Accordingly, the market interpreted that South Korea would receive different treatment from China, similar to the first term.

As of 2023, exports accounted for about 17% of Joil Aluminum’s total sales.

On the 6th, Joil Aluminum announced its performance for the previous year, reporting sales of 498.4 billion KRW and an operating profit of 20.1 billion KRW. Sales increased by 7%, and operating profit rose by 137%. Net profit turned positive at 11 billion KRW.