[Market Focus] HanmiGlobal Surges Over 10% on First Entry into Overseas Nuclear Power Market

HanmiGlobal saw its stock surge by over 10% in early trading on August 6. This appears to be due to heightened expectations for its nuclear power business following the company's recent project management (PM) contract win for a nuclear project in Romania.

As of 9:14 a.m. on this day, HanmiGlobal shares were trading at 21,550 won on the Korea Exchange, up 10.12% from the previous trading day. The stock opened at 21,000 won and climbed as high as 21,600 won during intraday trading.

HanmiGlobal announced on this day that it had secured a PM contract for the infrastructure improvement project at Unit 1 of the Cernavoda Nuclear Power Plant in Romania.

This project aims to extend the operational life of the nuclear plant, which began commercial operation in 1996 and has now reached the end of its original lifespan, by an additional 30 years through facility upgrades. In December of last year, Korea Hydro & Nuclear Power (KHNP) signed a contract with Romania's Societatea Nationala Nuclearelectrica (SNN) for the Cernavoda Unit 1 facility improvement project. HanmiGlobal has now been awarded the PM contract for the infrastructure construction segment from KHNP. The contract value is approximately 10 billion won.

HanmiGlobal plans to ensure the successful execution of the project by providing PM solutions such as step-by-step construction management strategies, integrated management systems for schedule, cost, and risk, compliance with local regulations, as well as claims and technical consulting.

HanmiGlobal has been preparing to enter the nuclear power business by acquiring Walker Sime, a UK-based PM specialist with nuclear construction experience, in 2022, and by establishing a dedicated nuclear power division last year.