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In this photo, published by the Ministry of Defense of South Korea, South Korean Military Courts, which take part in the military -marine drill near the east coast on September 4, 2017 in East Moory, South Korea.
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South Korean defense shares rose on Tuesday, according to a wide pickup in defense names all over the world, as the Russian-Ukraine war fueled security problems.
The increase among South Korean names was headed by Hanwha Aerospace, Korea Aerospace Industries, Hyundai Rotem and Lig Nex1.
Hanwha’s aerospace shares increased by 16.67%, while Hyundai Rotem stock increased by 11.51%. Hyundai Rotem specializes in the production of rail and protection.
Meanwhile, the stock in Korea Aerospace and Lig Nex 1, which produces weapons and aerospace equipment, received 7.77% respectively, respectively.
Other South Korean defense shares were also traded above, and Vicktek’s shares increased by 4.88%, FITEC – by 4.69%, and POGSAN – 7.65%.
South Korean military production companies have considered demand pickup in 2024 Works on massive weapons orders.
“South Korea’s position as a defense of the industrial power plant is backed up by real numbers,” a report published Italian Institute of International Political Studies last April – stated. He also stressed that at the end of 2010, the exports of weapons increased from $ 2 billion to $ 3 billion, reaching $ 7.3 billion in 2021.
Thereafter Regional leaders are negotiating security This affected the fortified military expenses.
The meeting affected the need to strengthen Ukraine and European defense, After Trump and the President of Ukraine VolodyMyr Zelenskyy collided On February 28, the White House over different views on how to end the conflict of Russia-Ukraine.
British Prime Minister Kire Starmer also is obliged to increase military costs to 2.5% of gross domestic product by 2027. Other European countries may follow the example.
Aerospace and Defense Analyst Morningstar Loredana Muharremi It expects that European defense costs reach 3.1% of gross domestic product by 2029 and 3.5% by 2032.
“We believe that by 2029 the target to defend until 2029 is possible if it is strategically structured, while financing the debt potentially supports growth, and focuses on European production and research and development,” she wrote on Monday.
Index aerospace and defense index Stoxx Europe Monday grew by 8%. This is noted by the index The best session for 5 years.
Meanwhile, the US Stock Reserves rose on MondayOnce Trump has made it clear tariffs Mexico and Canada came into force as planned.
– CNBC Lim Hui Jie contributed to this report.
