The market capitalization of HD Hyundai Group surpassed 100 trillion won during intraday trading on May 28. This was the result of a rapid rise in the share prices of major affiliates, driven by the shipbuilding supercycle and other factors.
According to the Korea Exchange on this day, the combined market capitalization of the ten listed companies under HD Hyundai Group stood at 97.0447 trillion won at the closing price. During intraday trading, the group’s market capitalization exceeded 100 trillion won for the first time ever.
As of the closing price on this day, only four conglomerates had a market capitalization of over 100 trillion won: Samsung (approximately 533 trillion won), SK (226 trillion won), Hyundai Motor (137 trillion won), and LG (127 trillion won).
This is seen as a result of the continued strength in shipbuilding stocks in recent times. The share price of HD Korea Shipbuilding & Offshore Engineering has risen by 27% since the beginning of this year. HD Hyundai Marine Engine and HD Hyundai Mipo have also increased by 63% and 40%, respectively. Even HD Hyundai Heavy Industries, which closed lower on this day, saw its share price jump by 38.3% compared to the beginning of the year.
The securities industry expects shipbuilding stocks to continue their strong performance, supported by orders for U.S. Navy vessels and overseas shipyard construction.
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