Latest news with #DoosanEnerbility
Korea Herald
2 days ago
- Business
- Korea Herald
Nuclear boom propels Doosan to 7th among Korea's largest chaebol groups
Doosan Enerbility eyes global expansion as US, Europe reignite nuclear ambitions Doosan Group, a Korean power generation-to-heavy equipment conglomerate, has shaken up the leaderboard of the country's largest conglomerates as its listed companies, namely Doosan Enerbility, saw their stock prices surge in the first five months of this year on the back of the United States doubling down on nuclear energy. According to the Korea Exchange, the combined market capitalization of Doosan Group's seven listed companies, including Doosan Bobcat, Doosan Enerbility, Doosan Fuel Cell and Doosan Robotics, stood at approximately 47.9 trillion won ($35.2 billion) as of 2:40 p.m. on Thursday. With this, Doosan has found itself sitting in the seventh place on the list of the biggest conglomerates in Korea, led by Samsung, SK, Hyundai Motor and LG. Doosan, which was outside the top 10 standings at the end of last year, saw its rankings go up to the 10th place in December and continued to make its way up the ladder to overtake other conglomerates such as Posco, Kakao and Celltrion. Doosan Enerbility, a power generation equipment and construction firm, played a pivotal role in shooting up the conglomerate's market capitalization. The stock price of Doosan Enerbility soared to reach 45,650 won per share during intraday trading on Thursday, a whopping 160 percent jump from the 17,550 won per share at the end of last year. As Doosan Enerbility's Kospi standings leaped to as high as the 13th last month from the 37th spot at the end of 2024, it accounted for some 80 percent of Doosan Group's 19-trillion-won market cap growth during that period. Doosan Enerbility's surging stock price is now expected to gain even more, as US President Donald Trump signed a series of executive orders to reestablish America as the global leader in nuclear energy last week after repeatedly pledging to revive the country's nuclear energy sector. As the US aims to increase the country's nuclear energy capacity from 100 gigawatt today to 400 GW by 2050 and have 10 new large nuclear reactors with complete designs under construction by 2030, Doosan Enerbility finds itself in a favorable business environment based on its experiences in building nuclear reactors and plants. Hur Min-ho, an analyst at Daishin Securities, noted in a recent report that the US executive orders 'will speed up the entrance' of Korean nuclear power firms in the US, the largest nuclear power plant market in the world. The US is not the only market Doosan Enerbility has set its eyes on. It is also a key member of Korea's consortium led by state-run Korea Hydro & Nuclear Power and Korea Electric Power Corp, which is only a few steps away from finalizing a $18 billion nuclear power project with the Czech Republic due to a court injunction blocking the contract signing. '(Doosan Enerbility) has not only supplied key equipment for (the Korean consortium's) Czech project but also delivered nuclear reactors and steam generators to Westinghouse's US- and China-bound AP1000 and is in discussions for supplying equipment to Westinghouse's order for three power plant projects in Poland and two power plant projects in Bulgaria,' said Hur. Doosan Enerbility is also pinning hopes on Kepco's power plant export talks with Vietnam, Saudi Arabia and Turkey along with other countries. Yang Il-woo, an analyst at Samsung Securities, said the International Energy Agency and International Atomic Energy Agency project forecast that the global energy production from nuclear power plants will triple by 2030 with the active implementation of innovative technologies such as small modular reactors. "European countries such as Denmark, Italy and Spain have become favorable toward nuclear power plants. … India plans to triple its nuclear power plant capacity by 2032 while Egypt and Turkey are looking to build new nuclear power plants,' said Yang. 'In terms of nuclear power plants as investment factors, Doosan Enerbility's price-to-earnings ratio will be high.'
Korea Herald
27-05-2025
- Business
- Korea Herald
Doosan Enerbility secures W340b deal for Saudi power plant projects
Korean energy solutions provider Doosan Enerbility announced Tuesday that it has secured contracts totaling 340 billion won ($248.7 million) to supply key power generation equipment for two combined cycle gas turbine power plant projects in Saudi Arabia. Under two recent agreements, the company will supply four 650-megawatt steam turbines and four 540-megawatt power generators for the Ghazlan 2 and Hajar combined cycle power plant expansions — two turbines and two power generators for each plant, the company said. Both projects are located in Saudi Arabia's eastern region, approximately 400 kilometers from the capital, Riyadh, and are scheduled for completion by 2028. According to Doosan Enerbility, the agreements were signed with a joint engineering, procurement and construction consortium comprising Spain's Tecnicas Reunidas and Egypt's largest construction firm, Orascom Construction. 'Backed by the trust and technological expertise we have built in the Middle East over more than 40 years, we continue to secure new projects in the region,' said Sohn Seung-woo, CEO of Doosan Enerbility's Power Service Business Group. 'We are committed to delivering high-quality products on time and will do our utmost to strengthen customer confidence and secure follow-up projects in the future.' With this latest deal, the company has racked up a total of nine steam turbine orders in Saudi Arabia since 2024. Leveraging its expertise in this technology, Doosan Enerbility has held the top global market share for ultra-large steam turbines — units with capacities over 300 megawatts — over the past five years, accounting for 33.1 percent of the 22.1 gigawatts installed worldwide.
Korea Herald
21-05-2025
- Business
- Korea Herald
Korean port cranes emerge as bargaining chip in US tariff talks
HD Hyundai, Doosan Enerbility, and HJ Heavy Industries gain traction as US seeks alternatives to Chinese port cranes Port cranes have surfaced as Korea's next bargaining chip in tariff negotiations with the United States in the wake of the Trump administration's efforts to phase out made-in-China cranes at US ports. The US Trade Representative announced a plan last month to impose tariffs of up to 100 percent on ship-to-shore, or STS, cranes and cargo handling equipment made in China or built using Chinese parts, emphasizing the need to reduce America's reliance on Chinese maritime infrastructure and address national security concerns. According to a report by the US Select Committee on the Chinese Communist Party, Shanghai Zhenhua Heavy Industry, or ZPMC, the world's largest STS crane manufacturer, run by the Chinese government, accounts for almost 80 percent of the STS cranes used at US ports. The report added that there were no domestic manufacturing alternatives for STS cranes in the US. The US has openly mentioned Korea's shipbuilding sector as an area where it seeks cooperation while it continues to push for the revitalization of its own shipbuilding industry. On top of the shipbuilding sector, Korea is poised to support the Trump administration's 'Make America Great Again' agenda with US domestic port crane manufacturers. To this end, HD Hyundai, which operates the world's largest single shipyard at its HD Hyundai Heavy Industries' Ulsan site and boasts significant crane manufacturing capacity, has emerged as a key player. HD Hyundai Vice Chairman Chung Ki-sun discussed affiliate HD Hyundai Samho's crane manufacturing capabilities with US Trade Representative Jamieson Greer on Korea's Jeju Island last week. According to HD Hyundai, Chung specifically talked about the dominance of Chinese port cranes in the US and proposed strengthening cooperation between Korea and the US to expand related supply chains in the US. 'The US certainly appears to be interested in Korea's crane manufacturing capabilities,' said an industry official. 'We think there is a good chance of port cranes being on the table for the tariff negotiations.' In addition to the STS cranes, HD Hyundai Samho is capable of producing rubber-tired and rail-mounted gantry cranes. The crane manufacturer has scored a series of crane orders at Korean ports, including a 179.6 billion won ($129.5 million) deal in Busan last year and a 206 billion won contract in Gwangyang this year. HD Hyundai Samho, which accounted for about 3.6 percent of the global port crane market share in 2023, is considering expanding production capacities in the future to bolster its global presence. Doosan Enerbility has been ramping up its port crane business activities in Vietnam through its local office, Doosan Vina. As of May last year, Doosan Vina had produced 132 cranes for various port operators in India, Indonesia, Singapore and Vietnam. HJ Heavy Industries scored a 187 billion won contract to supply 34 cranes to the Busan New Port last year. The shipbuilder and crane manufacturer is also exploring entry into the US market. Industry watchers have raised the possibility of Korean companies setting up a complete knockdown, or CKD, site in the US to deliver unassembled parts and make the final product there, as establishing a new manufacturing plant in the US might be too costly in the beginning. Paceco, a US subsidiary of Japanese manufacturing conglomerate Mitsui E&S, secured an order to supply eight cranes for the Port of Long Beach in California last year.
Korea Herald
19-05-2025
- Business
- Korea Herald
Foreigners return to Kospi on stronger won
Foreign investors, who had been on a massive selling spree, have returned to the South Korean benchmark Kospi, scooping up shares worth 1.5 trillion ($1.07 billion) won this month. According to data provided by the country's main bourse operator, Korea Exchange, offshore investors net bought shares amounting to 1.47 trillion won on the Kospi in May. Outside of May 2, when foreigners offloaded shares worth 167 billion won, they were net buyers on the market for eight consecutive trading days from May 7 to 16. The stock market closed on May 1 and May 3-6 because of public holidays. The buying spree marks a contrast from foreign investors being net sellers on the Kospi for nine straight months since August, offloading a total of 34.15 trillion won. In April, foreign investors dumped shares worth 9.35 trillion won on the bourse, setting a new high on the exodus. The turnaround comes on the back of the won's recent appreciation against the dollar. After weakening to 1,479 won to the US dollar on April 8, the local currency strengthened against the greenback to the 1,400 won level. A stronger won can be appealing for foreign investors to put their money in won-denominated assets, expecting a gain from further appreciation of the won. Chip giant SK hynix was the top-purchased stock for foreign investors this month, as they raked in 1.29 trillion won of shares, followed by energy solutions providers Doosan Enerbility and HD Hyundai Electric at 273 billion won and 147 billion won, respectively. Yet, foreign hands dumped their holdings of tech behemoth Samsung Electronics, net selling shares worth 559 billion won this month. With the sell-off, foreign ownership of Samsung Electronics' shares dropped to 49.7 percent from 56.5 percent in July. 'Foreign investors are continuing the net buying on the back of the improved investor sentiment in the global stock markets,' said analyst Lee Kyung-min at Daishin Securities. 'The anticipation of the won appreciation led to the net buying of foreign investors. The foreigners' move will set the tone for the Kospi's gain.'
![[Photo News] Doosan deepens Czech ties](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F05%2F14%2Fnews-p.v1.20250514.a7846f85922d44479ab9473c74333c7c_T1.jpg&w=3840&q=100)
Korea Herald
14-05-2025
- Business
- Korea Herald
[Photo News] Doosan deepens Czech ties
Doosan Enerbility Chair and CEO Park Gee-won (right) speaks with Czech President Petr Pavel during a reception for the Prague Spring International Music Festival at Smetana Hall in Prague on Monday. The Korean power plant company is sponsoring the traditional music event as part of its efforts to expand its presence in the Czech Republic. Doosan is also part of a Korean consortium recently named the preferred bidder for an $18 billion contract to build two reactors at the Dukovany nuclear power plant. (Doosan Enerbility)
