[Click eStock] "Korea Shipbuilding & Offshore Engineering Leads Eco-Friendly Shipbuilding Industry"

Announced Future Growth Plan at Online Conference on the 25th
Targeting 2030 to Oversee Offshore Wind Power, Hydrogen Production, and Transportation

[Asia Economy Reporter Gong Byung-sun] Korea Shipbuilding & Offshore Engineering has embarked on an eco-friendly innovation. Through this, it is expected to maintain its position as the world's number one shipbuilding group.

On the 26th, Daishin Securities raised the target price of Korea Shipbuilding & Offshore Engineering from the previous 135,000 KRW to 158,000 KRW, maintaining a 'buy' investment rating. The target price was calculated by applying a price-to-book ratio (PBR) of 1.0 to the net asset value of 157,790 KRW. Daishin Securities explained that it is difficult to expect the average PBR of 1.1 from 2011 to 2014 in the current situation where the offshore plant business has been downsized.

On the 25th, Korea Shipbuilding & Offshore Engineering announced its future growth plan through an online conference. The company plans to be responsible for offshore wind power, hydrogen production, and transportation by 2030. Specifically, it is expected to cover all areas related to eco-friendly hydrogen production offshore, including all parts of wind turbines except the turbine itself, offshore water electrolysis hydrogen production platforms, and hydrogen transportation infrastructure.

Korea Shipbuilding & Offshore Engineering has been establishing and executing technical strategies including mergers and acquisitions, while its subsidiaries have been responsible for production and development. The expansion of the eco-friendly business scope is expected to alleviate concerns about supply and demand dispersion due to the listing of Hyundai Heavy Industries. Lee Dong-heon, a researcher at Daishin Securities, evaluated, "Korea Shipbuilding & Offshore Engineering is the most suitable company to complete the eco-friendly value chain through collaboration with its affiliate Hyundai Oilbank."

Currently, Korea Shipbuilding & Offshore Engineering holds a competitive edge in eco-friendly ships. With the International Maritime Organization (IMO) strengthening environmental regulations, the development of eco-friendly ships is essential, which is a positive factor. Through this, it is expected to maintain its position as the world's number one shipbuilding group. However, the researcher said, "In terms of speed, ships have a slower adoption rate compared to land transportation, so there are concerns about the timing of multiple expansions," adding, "Once the progress of eco-friendly new businesses becomes concrete, the pace of multiple expansions will accelerate."

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