On the 8th, nuclear power stocks are surging across the board on expectations that a plan to build U.S. nuclear power plants could be included in Korea's investment project in the United States.
As of 9:54 a.m. that day, Seojeon Electric Machinery(189860) is trading at 5,260 won on the KOSDAQ market, up 830 won (18.74%) from the previous trading day. Woori Technology (5.45%), Daewoo Engineering & Construction (6.41%), and KEPCO E&C (12.67%) are also strong.
It is seen that investor sentiment was buoyed by news that the government is pushing a plan to build eight large nuclear power plants in the United States as part of a $200 billion (about 269 trillion won) investment project in the United States.
The previous day, it was reported that the Ministry of Trade, Industry and Resources, at a closed ruling party–government consultation held at the National Assembly, is negotiating to build a gas combined-cycle power plant in the Encinal area of Texas as the first investment project in the United States, and to construct up to eight large nuclear reactors as a follow-up project.
However, the Ministry of Trade and Industry (MOTI) said, "Talks between Korea and the United States are currently underway, and specifics have not been decided."