The stock price of Korea Electric Power Corporation rose above 40,000 won, thanks to the so-called "nuclear renaissance." This is the first time since October 2017.
Korea Electric Power Corporation's stock was traded at 40,400 won in the KOSPI market at 3:19 p.m. on the 26th. The stock price rose by 6.74% (2,550 won) compared to the previous day. During the session, the stock price even surged to 41,150 won. Korea Electric Power Corporation's stock price has increased by 43% over the past three trading days.
Concerns over declining revenue due to lowered electricity rates surfaced as Korea Electric Power Corporation's stock briefly fell to 26,700 won on the 10th. However, as expectations for nuclear power increased centered around Korea Hydro & Nuclear Power, in which Korea Electric Power Corporation holds 100% equity, the stock price began to rise again. This was aided by major countries like the United States and Europe shifting toward expanding nuclear power.
The drop in international oil prices, which had soared due to the Israel-Iran conflict, has also been noted as a driving force behind the stock price increase. Korea Electric Power Corporation's annual operating profit (loss) can change by about 300 billion to 400 billion won with just a $1 movement in the international oil price per barrel.
However, as Korea Electric Power Corporation's stock price rises sharply, it is exceeding the target price set by the securities industry. The average target price set by five securities firms this month for Korea Electric Power Corporation is 38,800 won.