(Seoul = News1) Reporter Park Seung-hee = HJ Shipbuilding & Construction (097230) is gaining strength on the 4th as it is mentioned as a beneficiary of the Korea-U.S. shipbuilding cooperation project.
On the 4th at 11:22 AM, HJ Shipbuilding & Construction was trading at 10,160 won, up 1,440 won (16.51%) from the previous day. It rose to 10,950 won during the session, setting a new 52-week high.
This gain is interpreted as being influenced by reports that the ‘MASGA’ project task force (TF) was organized after the Korea-U.S. customs agreement, and that the TF is reviewing plans to acquire small and medium-sized shipbuilders domestically.
HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, Samsung Heavy Industries, and the Korea Shipbuilding & Marine Equipment Association have organized a TF to discuss the MASGA project.
The TF plans to begin discussions on the MASGA project in earnest after the shipbuilding industry’s summer vacation period ends in early to mid-July.
Earlier, the government announced that it had concluded trade negotiations with the United States. Accordingly, the U.S. will lower mutual tariffs on Korea from the existing 25% to 15%.
Korea plans to make investments totaling 350 billion dollars in the U.S., including the MASGA fund of 150 billion dollars. MASGA stands for ‘Make American Shipbuilding Great Again,’ a proposal put forward by the Korean government to the U.S.
The MASGA project will be pursued in various ways, including the establishment of new shipyards in the U.S., training shipbuilding personnel, restructuring the shipbuilding supply chain, and maintenance and repair operations (MRO) related to shipbuilding.
Kim Yong-beom, policy chief of the Presidential Office, stated regarding the shipbuilding cooperation fund that “it encompasses the entire shipbuilding ecosystem, including ship construction, MRO (maintenance, repair, and overhaul), and shipbuilding materials.”