Dongsung Finetec has set a new all-time high for producing insulation materials used in liquefied natural gas (LNG) carriers. The outlook for increased orders for LNG carriers, such as the LNG project in Alaska, seems to have stimulated investor sentiment.
Dongsung Finetec's stock traded at 25,475 won on the Korea Securities Dealers Automated Quotations (KOSDAQ) market at 9:24 a.m. on the 12th. The stock price rose by 10.52% (2,425 won) from the previous day. During the session, the stock price jumped to 26,050 won, marking an all-time high.
A researcher from Hana Securities noted that the target stock price for Dongsung Finetec has been raised from 30,000 won to 35,000 won. It is expected that orders for LNG carriers will expand from 2025 to 2026, and due to the tense relations between the U.S. and China, the market share of domestic shipbuilders could increase. This will contribute to Dongsung Finetec's revenue.
The researcher evaluated that the U.S. government's promotion of the Alaska LNG project could create new demand for Dongsung Finetec, which has experience in land and maritime insulation material businesses.