[Market Focus] Hanwha Ocean Surges 9% After Trump Hints at Collaboration

Shares of Hanwha Ocean surged nearly 10% on the morning of December 23 in the domestic stock market. This sharp rise follows U.S. President Donald Trump’s suggestion of potential collaboration in the construction of naval frigates.

As of 9:45 a.m. on this day, Hanwha Ocean was trading at 119,800 won, up 9.21% from the previous session. The buying spree is attributed to President Trump’s direct mention of Hanwha during a press conference the previous night, where he stated that the U.S. Navy’s frigate construction project would proceed in cooperation with a Korean company.

President Trump commented, "Hanwha is a very excellent company," adding, "We have agreed to invest 5 billion dollars (approximately 7.4 trillion won) in the naval shipyard located in Philadelphia." This shipyard is interpreted as Philly Shipyard, which Hanwha acquired at the end of last year for 100 million dollars.