[Market Focus] SK Oceanplant Surges Over 8% on MRO Business Expectations...Hits Record High

SK Oceanplant hit a new 52-week intraday high, buoyed by expectations for its new ship maintenance, repair, and overhaul (MRO) business.

As of 9:08 a.m. on May 19, SK Oceanplant was trading at 21,450 won on the Korea Exchange, up 1,750 won (8.88%) from the previous session. During the session, the stock climbed as high as 22,150 won, setting a new 52-week high.

On this day, Meritz Securities raised its target price for SK Oceanplant from 19,000 won to 22,000 won, stating, "Expectations for the new ship MRO business, combined with anticipated offshore wind power orders, are likely to drive the share price higher." The brokerage maintained its 'Buy' rating.

Moon Kyungwon, a researcher at Meritz Securities, commented, "Starting this year, the ship MRO business should be recognized as SK Oceanplant's new business. The company began bidding for non-combat ship MRO projects this year and is planning to secure at least one order. In addition, it plans to apply for a Maintenance Service and Repair Agreement (MSRA) within this year and aims to acquire it in 2026. With a target of winning orders for four to five ships annually, the company expects to generate additional revenue worth several hundred billion won."