[Edaily Reporter Lee Hye-ra] Shipbuilding stocks are rallying in unison early in the session. This comes as President Lee Jae-myung held a bilateral meeting with Canadian Prime Minister Mark Carney on the sidelines of the Group of Seven (G7) Summit and mentioned the 60 trillion won Canadian submarine project.
According to MP Doctor on the 17th, as of 9:51 a.m., #HanwhaOcean is trading at 137,300 won, up 6.19% from the previous trading day.
It is reported that President Lee made remarks with the submarine project in mind during his meeting with Prime Minister Carney on the 16th (local time).
According to the Blue House, President Lee emphasized, “As the global order is being reshaped, South Korea, a leading defense power, is prepared to actively contribute to strengthening Canada’s security capabilities based on trust.” The industry interprets this as a remark specifically targeting the submarine project. Prime Minister Carney stated, “We place great importance on building a cooperative relationship with South Korea,” while expressing a general stance by adding, “Let’s continue to discuss the relevant matters.”
The Canadian submarine project involves replacing four Victoria-class submarines, which are scheduled to be decommissioned by the Canadian Navy in the mid-2030s, with South Korea and Germany currently engaged in fierce competition for the contract. Hanwha Ocean has entered the bidding process.
The shipbuilding sector as a whole is on the rise today. #HD Hyundai Heavy Industries, #Samsung Heavy Industries, #HD Korea Shipbuilding & Offshore Engineering, and #HJ Heavy Industries are also trading higher.