The news that Korea will create a fund worth 350 billion won led to soaring revenue of the shipbuilding-related exchange-traded funds (ETFs).
According to the Korea Exchange on the 10th, as of the 8th, the ETF with the highest revenue over the last month was the 'TIGER Shipbuilding TOP10,' which surged 30.8% in a month.
The TIGER Shipbuilding TOP10 ETF tracks the revenue of major domestic shipbuilding corporations. It contains 10 corporations, including Hanwha Ocean, HD Hyundai Heavy Industries, HD Korea Shipbuilding & Offshore Engineering, Samsung Heavy Industries, and HD Hyundai Mipo.
In addition, several shipbuilding-related products have also ranked high in ETF revenue. The 'SOL Shipbuilding TOP3 Plus' rose 30.7%, securing the 2nd spot in revenue. 'KODEX Eco-Friendly Shipbuilding Active' and 'HANARO Fn Shipbuilding' also increased by 26.6% and 22.8%, respectively, ranking 4th and 5th in growth.
Korea has decided to establish a shipbuilding cooperation fund through the 'Make American Shipbuilding Great Again' (MASGA) project in trade negotiations with the United States. One-third of the total investment of 350 billion won will be directed to the shipbuilding sector. As a result, the stock prices of shipbuilding-related companies are soaring.
As of the 8th, the total market capitalization of the 10 shipbuilding corporations that make up the 'TIGER Shipbuilding TOP10' ETF was 136.666 trillion won, an increase of 27.675 trillion won compared to the previous month.
Jung Yeon-seung, a researcher at NH Investment & Securities, noted, 'Policy and financial support have strengthened more than individual corporations entering the U.S. shipbuilding industry,' adding, 'Considering the Korean government's position which needs to achieve results, subsequent support policies and new projects can materialize quickly.'