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The Korea Herald
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THE INVESTOR
March 29, 2024

Industrials

Doosan Heavy stocks hit by nuclear-free policy

  • PUBLISHED :August 22, 2017 - 11:49
  • UPDATED :August 22, 2017 - 11:49
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[THE INVESTOR] Doosan Heavy Industries & Construction traded at a yearly low on Aug. 22 due to concerns that it would suffer from the new government’s policy against nuclear power and thermal power generation.

Doosan Heavy stocks were trading at 17,900 won (US$15.80) on the Seoul bourse as of 10:05 a.m., down 0.56 percent from the previous session‘s close and nearing their lowest level in one year.

In June, the government said the construction of the two reactors, Shin Kori No. 5 and Shin Kori No. 6, will be suspended for three months so policymakers can decide whether to scrap or move forward with the building project.

The first public survey on the suspension will be made this week.

The proposal to scrap the reactors’ construction sparked heated debates in a country that relies on nuclear reactors for about a third of its electricity. Proponents say the country should phase out nuclear power for safety and environmental reasons, but opponents say it will lead to a shortage in the power supply and a spike in electricity bills.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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