[Market Focus] SK Gas Rises Over 5% Amid Signs of Prolonged Middle East War

SK Gas is on the rise amid signs of a prolonged war in the Middle East.

As of 9:15 a.m. on March 23, SK Gas was trading at 274,000 won, up 5.38% (14,000 won) from the previous trading day.

On March 21, U.S. President Donald Trump stated, "If Iran does not fully open the Strait of Hormuz within the next 48 hours without any threats, the United States will devastate Iran by attacking various power plants, starting with the largest one." In response, Iranian President Masoud Pezeshkian countered, "Threats and terrorism will only strengthen our unity."

Previously, NH Investment & Securities raised its target price for SK Gas from 280,000 won to 330,000 won, noting that a prolonged closure of the Strait of Hormuz could present an opportunity for the company. Minjae Lee, a researcher at NH Investment & Securities, explained, "If the closure of the Strait of Hormuz continues, the price of LNG (liquefied natural gas) could increase. SK Gas is positioned to secure higher competitiveness compared to other combined cycle power plants through its Ulsan GPS facility."

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