Nuclear power-related stocks were strong early on the 23rd. Buying picked up after news of cooperation between Korea and Vietnam on nuclear power development.
As of 10 a.m. that day on the Korea Exchange, Doosan Enerbility was trading at 122,300 won, up 6,400 won (5.52%) from the previous session. It rose to as high as 123,900 won early in the session, setting a 1-year high.
At the same time, Orbitech (20.55%), WOOJIN (7.29%), and KEPCO E&C (5.88%) were also rising.
Lee Jae-myung, the president, on Apr. 22 (local time) held a summit with To Lam, general secretary of the Communist Party of Vietnam and state president, at the Presidential Palace in Hanoi, and said, "We will expand cooperation in strategic fields such as nuclear power, infrastructure, science and technology, and innovation, and engage in close cooperation on global challenges such as supply chain stability, sustainable growth, and climate change response."
According to the Korea-Vietnam memorandum of understanding (MOU) materials released after the summit, Korea Electric Power Corporation (KEPCO) and Vietnam Oil and Gas Group (PVN) signed an MOU to review the potential for cooperation on nuclear power development. Through this, they agreed to review options for building new nuclear power plants, risk analysis, and ways to optimize project timelines.