South Korean steel pipe makers rally on Alaska project hopes

Seah Steel

05/03/2025 04:50

** Shares of South Korean steel pipe manufacturers rally as country expresses interest in a gas pipeline project in Alaska

** Nexteel 092790.KS rises as much as 27% to a record high, Husteel 005010.KS jumps 24% to highest since July 13, 2023, and Seah Steel 306200.KS hits highest since September 1, 2022 with 8% gain

** Korea Gas Corporation 036460.KS soars 19% to highest since December 2, 2024

** South Korea and other countries want to partner with the United States and invest "trillions of dollars" in a "gigantic" natural gas pipeline in Alaska, U.S. President Donald Trump says

** South Korea says it will actively engage in discussions

** The broader KOSPI .KS11 rises 1.1%

 (Reporting by Jihoon Lee)

 ((jihoon.lee@thomsonreuters.com))