[Market Focus] Jeil Electric Soars 12% on Expectations of Rising Power Demand
On July 1, stocks related to electric power equipment showed strong gains across the domestic stock market amid expectations of increased electricity demand.
As of 10:34 a.m. on this day, Jeil Electric was trading at 11,510 won per share on the KOSDAQ market, up 12.73% from the previous session.
On the KOSPI market, LS was up 10.15%, reaching 217,000 won. LS Marine Solution rose 4.29%. Daehan Cable increased by 4.18%, while Sanil Electric climbed 2.71%.
This buying trend is attributed to expectations that demand for electric power equipment will increase both domestically and internationally. According to IT consulting firm Korea IDC the previous day, domestic data center electricity demand is expected to rise from 4,461MW this year to 6,175MW in 2028.
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Lee Minjae, a researcher at NH Investment & Securities, also stated in an industry report on electric power equipment, "Global demand for electric power equipment, including in the United States, is expected to remain strong over the medium to long term. However, if capacity expansion does not proceed as planned and tariffs add to costs, equipment prices may rise." He added, "The valuation of the electric power equipment industry could also be elevated to a higher level."
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