Korean nuclear power–related stocks are rising across the board. As the U.S. administration moves to cooperate with Westinghouse on a large-scale nuclear power project, expectations for Korean partner companies are also seen increasing.
At 9:20 a.m. on the 29th, Doosan Enerbility was trading at 92,400 won on the Korea Exchange, up 6,000 won (6.94%) from the previous session. It climbed to as high as 93,700 won early in the session, hitting a 1-year high.
Shares of KEPCO E&C and Hyundai E&C, grouped as Korean nuclear power stocks, are also up in the 3% and 7% ranges, respectively. Doosan Enerbility and Hyundai E&C are key partners of Westinghouse.
According to Reuters on the 28th (local time), the U.S. administration, Westinghouse, Brookfield Asset Management, and Cameco signed a strategic partnership that day to accelerate the adoption of nuclear power. Using Westinghouse's nuclear technology, the plan centers on building new plants across the United States worth at least $80 billion (about 115 trillion won).