South Korea and the U.S. governments have signed a memorandum of understanding (MOU) for joint entry into the global nuclear power market, leading to a broad rise in the share prices of related domestic stocks.
Doosan Enerbility shares were trading at 19,400 won on the KOSPI market at 9:05 a.m. on the 10th, up 3.04% (570 won) from the previous day. At the same time, Korea Electric Power Corporation (KEPCO) Industries and Korea Electric Power Technology (KEPCO Tech) also saw their stock prices rise more than 4% compared to the previous day.
On the KOSDAQ market, Orvitek's stock price surged by approximately 18%, with BH, WOOJIN Ntec, and our technology all showing strength. The expectation that cooperation between South Korea and the U.S. will revitalize nuclear power exports is seen as a factor driving the stock prices higher.
With the two countries signing the nuclear power cooperation MOU, forecasts are that the dispute between Korea Hydro and Nuclear Power Corporation and the U.S. nuclear company Westinghouse will be resolved. The Korea Hydro and Nuclear Power Corporation consortium was selected as the preferred negotiation partner for a nuclear power plant construction project in the Czech Republic worth over 24 trillion won last year, and is approaching a final contract in March this year, despite Westinghouse raising objections, claiming its technology was used.
Looking ahead, forecasts suggest that South Korea and the U.S. will jointly promote nuclear power exports to other third countries. There are also discussions about a division of roles where South Korea takes the lead in Europe and the Middle East.