[Featured Stock] Doosan Surges on Subsidiary's Strong Earnings and Green New Deal Benefits

[Asia Economy Reporter Park Jihwan] Doosan surged on the news of strong earnings from its subsidiaries and benefits from the government's Green New Deal policy.

According to the Korea Exchange on the 21st, at 2:27 PM, Doosan's stock price rose 16.25% from the previous trading day to 48,300 KRW. This is attributed to the strong performance of subsidiaries such as Doosan Heavy Industries & Construction and Doosan Infracore, as well as expectations of benefits from government policies.

On the same day, Doosan Heavy Industries & Construction hit the upper price limit due to expectations for the promotion of offshore wind power projects. The previous day, Doosan Heavy Industries & Construction announced, "In line with the government's offshore wind power plan, we aim to grow related business sales to over 1 trillion KRW annually within five years." Doosan Heavy Industries & Construction is currently the only domestic manufacturer of offshore wind turbines. In this regard, the government has set a plan to increase offshore wind power capacity from the current 124.5 MW to 12 GW by 2030 as the first phase of the Green New Deal policy accelerating the transition to renewable energy.

Doosan Infracore also showed a sharp rise as excavator sales in China performed well. At the same time, Doosan Infracore traded at 7,510 KRW, up 1,200 KRW (18.90%) from the previous trading day. The previous day, Doosan Infracore announced that excavator sales in China in the first half of this year increased by 10.5% compared to last year, totaling 10,728 units. This is the highest record in nine years since 2011, when 12,000 units were sold in the first half.

This content was produced with the assistance of AI translation services.