SEOUL, KOREA - The share price of Hyundai Merchant Marine is on the rise on the news of its potential participation in the Eurasian railway project and the successful completion of its capital increase. At 9:22 am on November 14, its shares were traded at 11,500 won, up 5.0 percent from the previous day's 11,000 won.

 

According to the terms of the agreement signed on the 13th at the Russia-Korea summit talks, Hyundai Merchant Marine will take part in a project to modernize the 54-kilometer Najin (North Korea)-Hasan (Russian Far East) railway together with other Korean partners such as POSCO and Korail. Russia plans to use the rail-connected port as a key entrepot while Korean companies ship their cargoes first to Najin and transport them to western destinations through the trans-Siberian railway.

 

The shipper also held on the 13th a capital increase in which it successfully procured 156 billion won, with the competition ratio of 1.5 to 1.