Doosan FuelCell’s share price jumped significantly. While Hyundai Motor Company and SK Group signed a’hydrogen alliance’, Doosan Fuelcell emerged as a beneficiary, leading to a rush of buying.
In the securities market on the 3rd, Doosan FuelCell finished trading at 54,500 won, an increase of 3700 won (7.28%) compared to the previous day. During the intraday, it rose close to 10% and touched 5,700 won.
According to related industries, Hyundai Motor Group and SK Group held a meeting at SK Incheon Petrochemical on the 2nd to discuss ways to expand the hydrogen ecosystem prior to attending the 3rd Hydrogen Economy Committee. It is reported that Hyundai Motor Group Chairman Eui-sun Eui-sun and SK Group Chairman Choi Tae-won met to discuss specific plans for cooperation in hydrogen business.
The two groups plan to promote the establishment of the’K-Hydrogen Council’, a CEO consultative body for hydrogen business cooperation in the first half of this year. The Korean version of the Hydrogen Committee is expected to play a variety of roles to lead the realization of a true hydrogen society by strengthening domestic companies’ hydrogen business capabilities and expanding their business areas.
With such news, Doosan Fuel Cell, which is producing and developing fuel cells, emerged as a beneficiary. Doosan Fuel Cell is the No. 1 hydrogen fuel cell manufacturer in Korea.
Lee Jong-hyung, a researcher at Kiwoom Securities, said, “Doosan Fuel Cell is expanding its investment to expand fuel cell facilities to respond to the market expansion, and is also spurring discovery of new businesses such as marine fuel cells.” After recording KRW 100 million, sales are expected to record 1.5 trillion KRW in 2023, which is expected to grow sharply.”
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