In this photograph published by the South Korea Ministry of Defense, the South Korea Navy ships participate in a naval drill on the East Coast on September 4, 2017 in East Sea, South Korea.
Pictures of getty
South Korean Defense Stocks increased on Tuesday, according to a wide collection in worldwide defense names, as a safety problems of the Russia-Ukraine war.
The earnings between South Korea names were directed by Hanwha Aerospace, Korea Aerospace Industries, Hyundai Rotem and Lig Nex1.
Actions in Hanwha Aerospace increased to 16.67%, while Hyundai Rotem shares increased by up to 11.51%. Hyundai Rotem specializes in producing railway equipment and defense products.
In the meantime, actions in Korea Aerospace and LIG Nex 1, which manufacture weapons and aerospace equipment, won up to 7.77% and 7.76% respectively.
Other South Korea Defense Actions also negotiated higher, with Vicktek’s shares 4.88%, a 4.69%fisher and Poongsan by 7.65%.
South Korea’s military manufacturing companies saw demand collected in 2024 powered by massive arms orders.
« South Korea’s position as defense industrial power plant is endorsed by real numbers », a report published by the Italian Institute of International Political Studies Last April declared. He also emphasized that the country’s weapons exports went from $ 2 billion to $ 3 billion in late 2010, with $ 7.3 billion by 2021.
The collection in South Korea Defense Actions comes in the midst of higher defense expenses in Europe, then Regional leaders had security conversations This touched the reinforced military spending.
The meeting touched the need to strengthen Ukraine and the European defense, After Trump and President of Ukraine Volodymyr Zelenskyy conf what In the White House on February 28 on different opinions on how to end the Russia-Ukraine conflict.
British Prime Minister Keir Starmer also pledged to increase military spending to 2.5% of gross domestic product by 2027. Other European nations can follow the same.
Aerospace analyst and defense of Morningsar Loredana Muharremi It is expected that expenditure on European defense will reach 3.1% of the gross domestic product for 2029 and 3.5% by 2032.
« We believe that an expenditure goal of defense of 3.1% by 2029 is feasible if this is strategically structured, with the funding of potential debt supporting growth and focuses on European production and research and development, » he wrote on Monday in a report.
The Defense Index and Aerospace and Defense of Stoxx Europe increased 8% on Monday. This marked the index Best session in 5 years.
In the meantime, defense stocks in the United States too went up on MondayAfter Trump made it clear rates In Mexico and Canada they would enter into force as planned.
– Lim today CNBC contributed to this report.
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