[Featured Stock] HJ Junggong Up Hits 52-Week High on Entry into US Naval Ship Market

HJ Heavy Industries has reached a new high following news of its entry into the U.S. naval vessel Maintenance, Repair, and Overhaul (MRO) business.

As of 9:28 a.m. on the 5th, HJ Heavy Industries is trading at 9,070 KRW, up 1,140 KRW (14.38%) from the previous trading day. During the session, the price rose to 9,300 KRW, marking a 52-week high.

According to industry sources the day before, HJ Heavy Industries has begun preparations to sign a Maintenance Service Repair Agreement (MSRA) necessary for entering the MRO business. To enter the U.S. Navy vessel MRO market, it must conclude an MSRA with the U.S. Navy Supply Systems Command. HJ Heavy Industries has identified overseas MRO as a future growth engine and is considering entry into the U.S. naval vessel MRO market.

Since being designated as the first defense contractor in the naval sector in 1974, HJ Heavy Industries has a track record of constructing various special-purpose vessels, including large transport ships such as Dokdo and Marado. Recently, it also secured contracts for the performance improvement system development project of 18 guided missile fast attack crafts for the navy, as well as MRO projects for the Dokdo and high-speed landing craft.