[Market Focus] WONIL TNI Surges as Korea's Only Holder of Key Hydrogen Alloy Tech for 60 Trillion Won Submarine Export

WONIL TNI's stock price is on the rise. As expectations grow that domestic shipbuilders may win Canada's 60 trillion won submarine project, attention is being drawn to the fact that WONIL TNI is the only company in Korea with mass-production technology for hydrogen storage alloys used in submarines.

As of 9:55 a.m. on August 27, WONIL TNI's stock price stood at 23,450 won, up 12.47% from the previous day.

The news that "Team Korea," which includes HD Hyundai Heavy Industries and Hanwha Ocean, has been shortlisted as a final candidate for Canada's ultra-large submarine project appears to have acted as a positive catalyst. On August 26 (local time), the Canadian government announced the CPSP shortlist, which includes Team Korea and Germany's Thyssenkrupp, among others.

The CPSP project involves the procurement of up to 12 conventional submarines weighing 3,000 tons each. With the estimated export price per submarine at 1.3 trillion won, the new construction cost alone amounts to 16 trillion won. When maintenance, repair, and operations (MRO) are included, the total project size is estimated at about 60 trillion won, making it the largest single maritime weapon system export opportunity in history.

If Team Korea wins the final contract, related supply chain companies are also expected to benefit. WONIL TNI possesses Korea's only mass-production technology for hydrogen storage alloys. Hydrogen storage alloys are materials that store hydrogen by utilizing the property of metals to absorb and release hydrogen. Because they can store and release high-purity hydrogen for extended periods, they are used in submarines and ships. WONIL TNI's products have been applied to the Navy's Jangbogo-III submarine.