Doosan Enerbility surged on the 7th. As of 1:52 p.m., the stock was trading at 86,900 won, up 7,700 won (9.72%) from the previous day. As news of nuclear power cooperation continues at home and abroad, buying has flowed into nuclear power-related stocks overall, with Doosan Enerbility at the center.

Nuclear Cooperation Framework Expanding Around the U.S. and France

The international cooperation framework surrounding the nuclear power industry has visibly expanded over the past few months. In the United States, aging nuclear plant replacement needs have combined with surging electricity demand from AI data centers, accelerating efforts to secure the small modular reactor (SMR) supply chain. In Europe, France is maintaining its nuclear power share while broadening technology and export cooperation with related countries.

Nuclear Diplomacy Ahead of the 140th Anniversary of Korea-France Diplomatic Ties and a Summit

Within this trend, President Lee Jae-myung stated in an April interview with Le Figaro his intention to develop relations with France into strategic cooperation in artificial intelligence and nuclear energy. Recently, he embarked on a four-day state visit to France marking the 140th anniversary of diplomatic ties between the two countries. A summit with President Macron is scheduled during this trip, with observers speculating that nuclear cooperation and the issue of deploying troops to the Strait of Hormuz could be on the agenda. The two leaders already agreed in April to expand cooperation in defense and civilian nuclear power and also aligned on strengthening cooperation in advanced industries such as AI, semiconductors, and quantum technology, so attention is focused on whether concrete follow-up measures will emerge from this summit.

Bill Gates' TerraPower Visit to Korea Leads to Doosan Enerbility SMR Equipment Order

Separately, on the 14th of last month, TerraPower Chairman of the Board Bill Gates visited Korea for the first time in about a year, holding successive meetings with SK, HD Hyundai, and others to concretize SMR business cooperation. SK Innovation signed a memorandum of understanding on conditions for a global joint sodium SMR business with TerraPower, and HD Hyundai set a goal of building a production system capable of supplying two to three reactor vessels per year.

Around the same time, Doosan Enerbility announced it had won an order from TerraPower to manufacture core equipment, including the reactor protection vessel and support structures for sodium reactors. This was the result of elevating the manufacturability review contract signed in December 2024 to a contractable level, and the equipment will be entirely deployed in TerraPower's inaugural project (345MW class) under construction in Kemmerer, Wyoming, in the United States.

Nuclear Stocks Rally Together... Differentiated Moves by Stock

Against this backdrop, nuclear power-related stocks broadly showed gains in early trading on the Korean market on the 7th. Hanyang ENG rose from the previous trading day, while Poongsan Holdings, BHI, and others also recorded gains. However, rather than the entire theme surging in unison, the trend showed differentiation by individual stock.

Doosan Enerbility's rise on this day is interpreted not as a sudden spike driven by a single specific catalyst, but as the result of both expectations for nuclear diplomacy centered on the France trip and its confirmed tangible supply chain participation through last month's TerraPower order being reflected together. However, the stock price still remains below its 52-week high recorded on May 7, so whether this rise will lead to a trend reversal needs further observation.

Remaining Variables: Summit Outcome, Westinghouse, Czech Republic

Key variables to watch going forward include, first, the outcome of the summit between President Lee Jae-myung and President Macron, particularly whether nuclear cooperation leads to a concrete joint statement or contract form. Additionally, ▲the progress of discussions on the joint acquisition of Westinghouse stakes ▲the timing of the construction contract signing for the Czech Dukovany nuclear plant ▲and whether the company achieves its 2026 guidance for SMR and large nuclear plant orders are cited as major indicators for judging additional momentum for Doosan Enerbility. However, since these matters are still at the negotiation or outlook stage and have not been finalized, they cannot be treated as confirmed facts until results are announced.

[※ This article was written for the purpose of providing information on the Korean stock market and related stocks, and does not recommend the purchase or sale of any specific stock or guarantee investment returns. Stock price movements and future outlook mentioned in the article may change depending on market conditions, corporate performance, supply and demand, policies, and external variables. In particular, content related to negotiations, contracts, and policies that have not yet been finalized may change or fall through as proceedings unfold. Investment decisions and the responsibility for them rest with the investor, so please thoroughly review corporate disclosures and related information before investing. This article was written with AI assistance.]