[Market Focus] NHN Surges Over 11% to Record High on Hopes for Increased Government AI Investment

NHN surged on expectations of increased government investment in artificial intelligence, hitting a new 52-week intraday high.

As of 9:45 a.m. on June 13, NHN was trading at 28,350 won on the Korea Exchange, up 2,950 won (11.61%) from the previous day. During the session, the stock rose as high as 28,400 won, setting a new 52-week high.

Jung Hoyoon, a researcher at Korea Investment & Securities, stated, "NHN's share price has been rising sharply recently, as one of President Lee Jaemyung's major pledges was to invest 100 trillion won in AI businesses to enhance national AI competitiveness. NHN is being highlighted as one of the companies likely to benefit from this policy." He added, "NHN is a leading provider in the public sector cloud market and, in particular, completed server investments for the Gwangju AI Data Center in 2024. As a result, there are growing expectations that NHN will be positioned as one of the main beneficiaries of expanded government investment in AI." Korea Investment & Securities raised its target price for NHN by 25.0% to 30,000 won, citing improved growth visibility for its cloud division.