S.Korea's Hanwha Solutions jumps after report US plans to restore solar tariff

Hanwha Solutions

18/04/2024 01:37

** Shares of Hanwha Solutions  009830.KS  gain more than 4%
after a Reuters report of a U.S. plan to remove tariff
exemptions on solar panel imports, as requested by the South
Korean company
    ** The Biden administration is expected to grant a request
by South Korea's Hanwha Qcells to reverse a two-year-old trade
exemption that has allowed imports of a dominant solar panel
technology from China and other countries to avoid tariffs,
Reuters reported
    ** Hanwha Qcells is the solar segment of Hanwha Solutions,
which runs energy-related businesses of South Korean
conglomerate Hanwha  000880.KS 
    ** The report comes as Hanwha Qcells is seeking to protect a
pledged $2.5 billion expansion of its U.S. solar manufacturing
presence against competition from cheaper Asian-made products
    ** Shares of Hanwha Solutions rise 4.15% as of 0021 GMT,
outperforming the broader KOSPI market's  .KS11  0.97% rise

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))