Shipbuilding Stocks: Another Surge This Year? 'This' Will Change the Shipbuilding Industry / Shipbuilding Stocks Q4 Earnings Explosion Preview! Reasons to Buy Now! | CEO Lee Kwon-hee

Summary

Lee Kwon-hee, CEO of WizWave, argues that Korean shipbuilding stocks can rally again as 2026 becomes a year of volume growth, with higher-priced orders, dock restarts, and double-digit margins. He highlights US naval special-ship/MRO legislation as a major catalyst and names HD Korea Shipbuilding, Samsung Heavy, Hanwha Ocean, HD Hyundai Heavy, and equipment maker KSP as favored ways to play it. He also frames KSP as a valuation catch-up idea and warns investors to sell into large US order announcements or a KSP spike near 20,000 won.

• Market indices and large leaders are strong, while shipbuilding, defense, and nuclear sectors rotate.
• Lee expects another overshooting rally in Korean shipbuilding stocks.
• The key 2026 driver is resumed volume growth as new higher-priced orders enter earnings.
• Dock restarts and expansions at Samsung Heavy, Hanwha Ocean, and the HD Hyundai group support capacity growth.
• A US naval special-ship/MRO law revision is a major potential catalyst.
• Hanwha Ocean has differentiated naval exposure through Philly Shipyard and Virginia-class submarine work.
• Top large-cap pick is HD Korea Shipbuilding; Samsung Heavy has FLNG momentum; HD Hyundai Heavy benefits from the Mipo merger.
• KSP is the favored shipbuilding-equipment value play; other equipment names are mentioned with less detail.