KRX:042660

South Korea Shares Close Sharply Higher on US-Iran Peace Deal

South Korean shares closed sharply higher on Monday after the U.S. and Iran reached an agreement to end the war in the Middle East.The benchmark Korea Composite Stock Price Index, or Kospi, surged 5.2%, or 422.36 points, to close at 8,545.98. The Kosdaq increased by 0.5%, or 4.98 points, to end at 1,034.03.U.S. President Donald Trump said on Truth Social on Monday that the deal with Iran would keep the Strait of Hormuz permanently open "toll-free" to shipping. He also authorized the immediate removal of the U.S. naval blockade from the key waterway.The Korea Exchange activated a five-minute buy-side sidecar on the main Kospi market on Monday morning after a surge in buying activity triggered the market safeguard mechanism.In economic news, South Korea's information and communication technology (ICT) exports rose 128.9% to $47.79 billion in May from a year earlier, marking the highest-ever ICT export growth rate, the Ministry of Trade, Industry and Energy said in a Sunday release.In corporate news, Hanwha Ocean (KRX:042660) secured an order for the construction of four VLCC vessels worth 800.1 billion won from an unnamed Asian shipper.Shares of the shipbuilder rose nearly 9% at market close on Monday.

Hanwha Ocean Bags KRW800 Billion Order for Four Vessels; Shares Rise 4%

Hanwha Ocean (KRX:042660) secured an order for the construction of four VLCC vessels worth 800.1 billion won from an unnamed Asian shipper, according to a Friday filing with the Korean Exchange.Delivery is expected by Feb. 22, 2030, with payments tied to construction milestones.Shares of the shipbuilder rose over 4% in recent trade on Monday.

Market Chatter: Hanwha Ocean Wins Preferred Bidder Status for KDDX Destroyer Project

Hanwha Ocean (KRX:042660) was selected as the preferred bidder for South Korea's KDDX next-generation destroyer program, valued at about 7.8 trillion won, The Korea Times reported, citing the Defense Acquisition Program Administration and industry sources.The KDDX program reportedly aims to deploy six 6,000-ton destroyers equipped with the Aegis combat system by 2030, replacing aging naval vessels scheduled for retirement later this decade.The Defense Acquisition Program Administration completed its evaluation of proposals for the detailed design and construction of the lead vessel and notified Hanwha Ocean and HD Hyundai Heavy Industries of the results on Thursday, the report said.Hanwha Ocean said the selection reflected its naval shipbuilding and project execution capabilities and pledged to work with the agency to advance the delayed program and support South Korea's naval modernization efforts, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hanwha Engine Dismisses Media Reports of Aftermarket Business Spinoff

South Korean marine engine producer Hanwha Engine (KRX:082740) dismissed media reports that it was considering spinning off its Aftermarket business and acquiring business units from affiliate companies Hanwha Ocean (KRX:042660) and Hanwha Aerospace (KRX:012450).The report published by E-Today that Hanwha Engine planned to spin off its Aftermarket division and acquire the equipment business of Hanwha Ocean and the propulsion-related defense business of Hanwha Aerospace was groundless, Hanwha Engine said in a Wednesday filing with the Korea Exchange.Shares of Hanwha Engine rose over 2% in recent trade, while those of Hanwha Ocean added more than 6%.

Hanwha Ocean Bags LNGC Vessel Construction Order

Hanwha Ocean (KRX:042660) secured an order for the construction of an LNG Carrier worth 375.9 billion won from an unnamed European shipping company, according to a Friday filing with the Korean Exchange.Delivery is expected to be made by Sept. 28, 2029, with payments tied to construction milestones.

Hanwha Engine Secures KRW354.2 Billion Ship Engine Contract from Hanwha Ocean

Hanwha Engine (KRX:082740) secured a contract for a ship engine from Hanwha Ocean (KRX:042660), according to a Wednesday filing with the Korean Exchange.The contract, valued at 354.2 billion won, is valid until June 26, 2028.Shares of Hanwha Engine rose nearly 2% at market close.

South Korea's Kospi Hits All-Time High; Samsung Rises 6%

South Korea's benchmark index Kospi closed at an all-time high on Monday, with the rally driven by chip giants Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660), which gained over 6% and nearly 12%, respectively.The Korea Composite Stock Price Index or Kospi increased by 324.24 points, or 4.3%, to end at 7,822.24. The Kosdaq finished little changed in negative territory at 1,207.34.In economic news, South Korea's exports surged 43.7% to $18.4 billion in the first 10 days of May from $12.8 billion a year earlier, Monday data from the Korea Customs Service showed.Imports increased 14.9% to $16.7 billion, resulting in a $1.7 billion trade surplus.In corporate news, shares of Hanwha Ocean (KRX:042660) rose 3% after the company secured a 363.2 billion won order for a liquefied natural gas carrier from a Europe-based shipper.In other news, Hyundai Motor Group and Korea Aerospace Industries (KRX:047810) signed a memorandum of understanding to develop advanced air mobility solutions.Shares of Hyundai (KRX:005380) closed 5% higher, while those of Korea Aerospace edged up 2%.

Market Chatter: Hanwha Pledges Canadian Steel, Auto Tie-Ups in Submarine Contract Bid

South Korea's Hanwha Group would partner with Canadian auto parts makers to produce armored vehicles if it secures a major submarine contract in Canada, Bloomberg News reported Thursday.Hanwha Ocean (KRX:042660) is expected to play a central role in the project. The shipbuilder is competing with Germany's Thyssenkrupp Marine Systems for a deal to build up to 12 submarines worth billions of dollars, with Canada urging bidders to include broader industrial benefits, the report said.Hanwha reportedly said it would use Canadian-made steel and aluminum, offering support to two sectors hit by US tariffs that have curtailed exports.A final decision on the deal is expected by the end of June, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nomura Adjusts Hanwha Ocean's Price Target to KRW75,000 from KRW72,000, Keeps at Reduce

Hanwha Ocean's Net Attributable Income Jumps 132% in Q1

Hanwha Ocean (KRX:042660) posted first-quarter net income attributable to shareholders of 500 billion won, up 132% from 215.7 billion won a year earlier, according to a Monday filing with the Korea Exchange.The South Korean shipbuilder's sales rose 2.1% year over year to 3.200 trillion won from 3.143 trillion won.Shares of Hanwha Ocean fell 1% at market close.

South Korean Shares Close Lower amid Israel's Beirut Attack, US-Iran Ceasefire Under Strain

South Korean shares closed lower on Thursday after Israel violated the US-Iran truce and attacked Lebanon's capital, Beirut, on Wednesday.Investors remained skeptical about the longevity of the ceasefire amid the recent attack, as Tehran prepares to engage in talks with the US in Islamabad from Friday. The development also clouded the potential reopening of the critical Strait of Hormuz in the near term.The Korea Composite Stock Price Index or Kospi fell 94.33 points, or 1.6%, to end at 5,778.01. The Kosdaq also decreased by 13.85 points, or 1.3%, to close at 1,076.Israel hit Beirut without warning on Wednesday, hours after the US and Iran agreed on a two-week ceasefire. The strikes killed at least 250 people and wounded 890, according to AFP.In corporate news, Hanwha Ocean (KRX:042660) secured an order for two very large crude carriers from an Oceania-based shipowner, according to a Thursday filing with the Korea Exchange. The contract, valued at 393.3 billion won, is valid till Jan. 4, 2030.Shares of Hanwha Ocean fell more than 3% at market close.