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South Korea's Top Shipbuilders Tumble 2-8% on July 3 Despite Record Order Backlog

GateNews
Stocks
According to Hankyung, on July 3, shares of South Korea's three major shipbuilders—Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries—declined 0.83% to 8.64% year-to-date, despite record commercial orders. The three firms have achieved 65% of their 2026 order targets at $17.25 billion, yet stocks fell sharply in late June after the Canadian Next Generation Submarine Project procurement was restructured to select a single contractor rather than split awards. Uncertainty over the 60 trillion won ($46 billion) contract award, scheduled for early July, has rattled investors.
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