Shipbuilding stocks soar as US approves nuclear submarine plan, tariff deal boosts orders
Korean shipbuilding stocks surged Thursday following the conclusion of Korea-U.S. follow-up tariff negotiations, along with U.S. President Donald Trump’s official approval of Seoul’s plan to build a nuclear-powered submarine. Hanwha Ocean stocks rose 6.82 percent to close at 140,900 won ($99) after hitting a record high of 151,600 won earlier in the day. Samsung Heavy Industries also gained 1 percent, ending at 30,300 won after reaching an all-time high during the session. The benchmark KOSPI climbed 0.17 percent, or 6.82 points, to finish at 4,087.97. After a nearly three-month tug-of-war over tariff negotiations, Korea and the United States finalized a comprehensive deal on Wednesday, following an agreement reached between President Lee Jae Myung and U.S. President Donald Trump during their summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju, North Gyeongsang Province. Under the agreement, Korea’s $350 billion investment commitment will be divided into two parts — $200 billion in cash investments made in annual installments capped at $20
