[Market Focus] HD Hyundai Hits Record High on News of Joint Construction of Next-Generation U.S. Navy Logistics Support Ship

HD Hyundai is showing strong performance in early trading.

As of 9:03 a.m. on October 27, HD Hyundai was trading at 211,500 won, up 16.46% (29,900 won) from the previous trading day. During the session, the price soared to 219,500 won, setting a new 52-week high.

Investor sentiment was boosted by news that the company will join forces with Huntington Ingalls, the largest defense shipbuilder in the United States, to build the next-generation logistics support ship for the U.S. Navy.

HD Hyundai announced that on the previous day, it signed a Memorandum of Agreement (MOA) on cooperation for the design and construction of commercial and naval vessels with Huntington Ingalls at the Lahan Select Hotel in Gyeongju, North Gyeongsang Province, where the 2025 Asia-Pacific Economic Cooperation (APEC) Summit will be held.

This collaboration is a follow-up to the defense industry cooperation Memorandum of Understanding (MOU) that HD Hyundai signed with Huntington Ingalls in April, and marks the first case of cooperation between South Korea and the United States in the field of logistics support ships.

The next-generation logistics support ship being developed by the U.S. Navy is a vessel that supplies fuel and other military materials to combat ships in operational areas. Under the MOA signed on this day, the two companies will cooperate in the design and construction of the U.S. Navy's next-generation logistics support ship, and will share expertise and capabilities to improve construction costs and delivery times in both the commercial and naval vessel sectors.