More ship orders send South Korean yard stocks soaring

Stock prices at the three major South Korean shipbuilders rose considerably over the past month. This is especially due to a wave of new orders, and the trend is expected to continue throughout the year, news agency writes.

Photo: Daewoo Shipbuilding & Marine Engineering/Yonhap

A significant increase in the order intake at the three major South Korean shipbuilders send their stock prices soaring.

Samsung Heavy Industries' stock increased by 19.7 percent in the past month, while Daewoo Shipbuilding & Marine Engineering's (DSME) rose by 23 percent. The share price of Korea Shipbuilding & Offshore Engineering, which operates the shipbuilding business of Hyundai Heavy Industries, increased by no less than 26 percent, according to domestic news agency Yonhap.

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