Shares of HD Hyundai Marine Engine, an affiliate of South Korean shipbuilding giant HD Hyundai, surged to a one-year high in early trading on April 14, as the country’s shipbuilding industry emerged as a potential bargaining chip in U.S. tariff negotiations. The marine engine and parts maker has jumped more than 23% over the past three sessions.
The stock traded at 33,050 won on the KOSPI at 9:44 a.m., up 1,850 won (5.93%) from the previous close. Earlier in the session, it reached 33,950 won, setting a new 12-month high. Other shipbuilding stocks, including HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries, also posted strong gains.
Investor sentiment improved after U.S. President Donald Trump suggested that the U.S. could buy foreign-built ships as part of a plan to rebuild its shipbuilding industry.
Speaking at a White House Cabinet meeting on April 10, Trump said that America will “start the process of rebuilding” its shipbuilding industry, emphasizing that this will become a “very big business” in the near future. He also noted that the U.S. “may be ordering top-of-the-line ships” through deals with countries that excel in shipbuilding, hinting at potential purchases from allied nations.
