[Featured Stock] HD Hyundai Heavy Industries Surges Over 10% on US Navy Shipbuilding Expectations

On the morning of the 12th, domestic stocks, including HD Hyundai Heavy Industries, showed strong performance following news that the U.S. Congress has introduced a bill allowing naval shipbuilding to be entrusted to allies, including South Korea.

According to the Korea Exchange, as of 9:50 a.m., HD Hyundai Heavy Industries' stock price surged 10.95% compared to the previous close, trading at 339,500 KRW per share.

This follows reports that Republican senators in the U.S. Senate recently introduced the "Naval Readiness Guarantee Act," which allows exceptions to the ban on building naval vessels at foreign shipyards. If the bill passes, naval shipbuilding can be entrusted to shipyards located in NATO member countries or Indo-Pacific countries that have mutual defense treaties with the U.S. Although the bill does not specify particular countries as partners, it is widely assessed that South Korea and Japan have the highest competitiveness, which has led to a buying spree.

At the same time, Hanwha Ocean's stock price also rose more than 2%. Hanwha Ocean is considered a representative beneficiary, having already secured new MRO orders from the U.S. Navy. HD Korea Shipbuilding & Offshore Engineering and Samsung Heavy Industries also showed gains of 3.84% and 3.70%, respectively, confirming a simultaneous rise in shipbuilding stocks. STX Engine surged more than 12%.