[Market Focus] Hyundai Engineering & Construction Surges to Record High on Expectations of Revaluation as Nuclear Power Player

Hyundai Engineering & Construction continued its upward trend for a second consecutive day, hitting a new 52-week intraday high.

As of 9:27 a.m. on June 10, Hyundai Engineering & Construction was trading at 72,400 won on the Korea Exchange, up 4,100 won (6.0%) from the previous day. During the session, the stock climbed as high as 72,800 won, setting a new 52-week high.

Securities analysts attribute the rise to expectations that the company will be re-evaluated as a nuclear power plant company. On this day, Jang Moonjun, a researcher at KB Securities, commented on Hyundai Engineering & Construction, stating, "The company is emerging as a true engineering, procurement, and construction (EPC) player in the nuclear power sector." He added, "The recent stock price movement is in line with leading nuclear-related stocks such as Doosan Enerbility. The share price now reacts more sensitively to trends in the nuclear power industry than to the construction market, so the traditional valuation metrics used for domestic construction stocks are no longer appropriate." He further noted, "It is now necessary to compare Hyundai Engineering & Construction with new peers that are also active in the nuclear EPC field. The company has entered a phase where comparisons with global EPC firms with nuclear project experience, such as Vinci of France, Atkins of Canada, and L&T of India, are more relevant."