[Market Focus] Renewable Energy Stocks Surge on Lee Jaemyung's Ministry of Climate and Energy Pledge

HD Hyundai Energy Solution and SK Eternix Lead Gains Among Renewable Energy Stocks

On June 2, with just one day left before the 21st presidential election, renewable energy-related stocks are showing strong performance. This is due to expectations of increased demand for renewable energy following Democratic Party candidate Lee Jaemyung's pledge to establish a Ministry of Climate and Energy.

As of 1:55 p.m. on this day, HD Hyundai Energy Solution was trading at 51,900 won, up 3,650 won (7.56%) from the previous trading day.

HD Hyundai Energy Solution, a company engaged in the production and sale of solar cells and modules, began as the Green Energy Business Division of Hyundai Heavy Industries (now HD Hyundai Heavy Industries) in 2004 and became an independent corporation in 2016.

Other strong performers include SK Eternix (up 4.87%), Daemyung Energy (up 3.96%), Gridwiz (up 4.46%), and Paru (up 15.15%).

On May 29, candidate Lee stated on Facebook, "We must rapidly foster industries related to renewable energy." The policy book released the previous day included a pledge to establish a Ministry of Climate and Energy if elected president, with the aim of nurturing the carbon-neutral industry as a new growth engine.