Shares of HD Hyundai Heavy Industries climbed more than 3 percent on Friday morning after the U.S. billionaire Bill Gates arrived in South Korea for talks that could expand collaboration on small modular reactors (SMRs). The stock was trading at 511,000 won ($360.83) at 9:14 a.m., up 3.02 percent from the previous session, after opening 2.62 percent higher and briefly reaching 517,000 won.
Gates’ visit fuels market optimism
The rally reflected expectations that Gates, chair of the Gates Foundation, will discuss SMR cooperation with HD Hyundai Co. Chairman Chung Ki-sun. Gates is in Korea for the first time in a year, and his schedule includes a meeting focused on potential joint projects with the heavy‑equipment maker. Anticipation of a partnership with TerraPower LLC, the next‑generation nuclear company co‑founded by Gates, added to the buying pressure.
In May, the firm was chosen as the preferred bidder to provide the reactor enclosure system (RES) for TerraPower’s Natrium reactor, a key component of the SMR design. The news has already been reflected in the stock’s performance, with the parent company HD Hyundai Co. also rising 3.28 percent.
Industry context and related moves
Other Korean conglomerates saw mixed reactions. LG Electronics shares surged 6.3 percent after reports that LG Group Chairman Koo Kwang‑mo would meet Nvidia CEO Jensen Huang in Silicon Valley. The meeting follows an earlier closed‑door discussion in Seoul, where investors hoped for concrete AI collaboration plans.
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Meanwhile, Samsung Electronics and SK hynix trimmed early gains after opening sharply higher. Samsung was up 0.93 percent, while SK hynix rose more than 5 percent before its advance narrowed. The broader market was buoyed by a positive close on Wall Street, where the Dow Jones, S&P 500, and Nasdaq all posted gains on expectations that the Federal Reserve might delay its next rate hike.
TerraPower’s partnership with Doosan Enerbility, which announced a contract to produce key equipment for the Natrium reactor, also saw its stock rise 2.1 percent. This parallel development highlights a broader ecosystem of Korean firms positioning themselves as suppliers for emerging nuclear technologies.
While the immediate price action reflects optimism, the long‑term impact will depend on concrete outcomes from the upcoming discussions. If Gates and Hyundai finalize a joint venture or supply agreement, the financial benefits could extend beyond the current share price rally, potentially influencing Korea’s export profile in the nuclear sector.
