[Market Focus] Hanwha Ocean Surges 11% Early After President Lee Cites It as a "Model Case"

The share price of Hanwha Ocean, which President Lee Jaemyung cited as a model case for mutual growth and cooperation, showed strong gains early in the trading session. Securities analysts are also forecasting growth for the company this year.

As of 10:00 a.m. on March 11, Hanwha Ocean's stock was trading at 1,390,000 won higher than the previous day (up 11.33%) at 1,383,000 won. Hanwha Ocean's share price rose as high as 1,410,000 won in the early session.

This appears to be a reaction from investors following President Lee's mention of Hanwha Ocean as a model case for mutual growth and cooperation. The previous day, at the Blue House, President Lee held a meeting with industry leaders under the theme "Sowing the Seeds of Mutual Growth, Blossoming into Growth for All," where he stated, "I hope that a culture of mutual growth, like the case of Hanwha Ocean, will spread throughout the entire economy."

Securities firms also gave a positive outlook for Hanwha Ocean this year. Lee Jaehyuk, an analyst at LS Securities, said, "There have been continued expectations for investment in the United States in connection with Hanwha Phili, Austal USA, and Hanwha Shipping. With the announcement of the U.S. Ocean Action Plan, the resulting active federal financial support and the implementation of the bridge strategy will make it easier to expand shipbuilding capacity in the U.S. and to increase new orders from U.S. shipyards."

Target prices have been set at 1,700,000 won by LS Securities, 1,790,000 won by Kiwoom Securities, and 1,600,000 won by KB Securities, with all securities firms maintaining a "buy" rating.

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