U.S. President Donald Trump is set to sign an executive order to revitalize the nuclear industry on May 24 (local time), causing nuclear power stocks to rise.
Doosan Enerbility shares traded at 39,600 won on the KOSPI market at 9:01 a.m. on the 23rd. The stock price rose by 3.53% (1,350 won) from the previous day, setting a new high for the past year. Other nuclear power-related stocks, including WOOJIN, Woori Technology, BH, Hyundai E&C, and KEPCO E&C, also experienced an upward trend.
In the U.S. New York Stock Exchange, nuclear power stocks also surged. OKLO, which develops nuclear fission and nuclear fuel recycling technologies, saw its stock price increase by 7.91% ($2.91) in regular trading and jump more than 18% in the after-market. Nuclear power-related stocks like NuScale Power (SMR) and Cameco (CCJ) are also strong.
Earlier, Reuters, citing multiple sources, reported that President Trump is expected to sign an executive order to revitalize the nuclear industry as early as the 24th. The executive order is expected to include provisions to relax regulations related to new reactor approvals and strengthen the nuclear fuel supply chain.
As the artificial intelligence (AI) industry flourishes, the importance of stable power demand is growing. Reuters noted, "Nuclear power is supported by Democrats as a clean energy source with nearly zero carbon emissions and is viewed by Republicans as a more stable power source than wind and solar energy."