[Market Focus] HD Hyundai Mipo Rises on News of Merger Among Shipbuilding and Marine Affiliates

HD Hyundai Mipo is showing strong performance. This appears to be influenced by news that HD Hyundai Group is pursuing a merger among its shipbuilding and marine affiliates in order to enter the U.S. naval vessel market.

As of 2:09 p.m. on August 27, HD Hyundai Mipo is trading at 211,000 won, up 12.2% from the previous day.

According to a media outlet, HD Hyundai was reported to have held a board meeting on this day to discuss a plan to merge HD Hyundai Mipo with its shipbuilding and marine affiliates. HD Hyundai Mipo is a mid-sized shipbuilder within the HD Hyundai Group, specializing in the construction of commercial vessels such as tankers and container ships.

Previously, HD Hyundai has been accelerating its entry into the U.S. market by strengthening cooperation with major American shipbuilders. On August 25, the company also announced an investment program worth several billion dollars to help rebuild the U.S. shipbuilding industry.