As U.S. President Donald Trump visits Korea to attend the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, North Gyeongsang, shares jumped on speculation that he may visit major domestic shipyards.
Samsung Heavy Industries shares traded at 27,850 won on the KOSPI at 9:15 a.m. on the 27th. The stock rose 12.3% (3,050 won) from the previous trading day. At the same time, HJ Shipbuilding & Construction was also posting a double-digit percentage gain.
HD Hyundai Heavy Industries, HD Hyundai Mipo, and Hanwha Ocean also rose around 4%.
President Trump will visit Korea on the 29th. In this process, there is speculation that President Trump could personally visit a shipyard to bolster the Korea-U.S. shipbuilding cooperation project "MASGA."
There is talk that he may visit one of the "big three": HD Hyundai Heavy Industries' Ulsan Shipyard, Hanwha Ocean's Geoje yard, or Samsung Heavy Industries' Geoje shipyard.
The closest to the APEC summit venue is Hyundai Heavy Industries' Ulsan Shipyard. However, industry circles cite Hanwha Ocean's Geoje yard (then Daewoo Heavy Industries' Okpo Shipyard), which Trump visited once in 1998, as a leading candidate.
In addition to President Trump, there is also speculation that Canada's Prime Minister Mark Carney, who is set to place orders for a 60 trillion won submarine construction and maintenance program, could visit domestic shipyards alongside his APEC attendance.