South Korean shipbuilding stocks surge as trade talks begin with US

HD Hyundai Heavy Industries Co

25/04/2025 01:36

** Stocks of South Korean shipbuilders surge after opening round of trade consultations with U.S.

** HD Hyundai Heavy Industries 329180.KS rises more than 7% to record high; HD Korea Shipbuilding & Offshore Engineering 009540.KS climbs 5% to near 13-year high

** Hanwha Ocean 042660.KS, which has a shipyard in Philadelphia, gains more than 6% to highest since early March

** Seoul and Washington agree to craft package of deals aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July

** Shipbuilding a "very important card" for trade negotiations with the U.S., Seoul said

** Broader KOSPI .KS11 rises 0.9%

 (Reporting by Jihoon Lee)

 ((jihoon.lee@thomsonreuters.com))