Yun Xi Yue's phone call with Trump triggers a surge in the stock prices of South Korea's shipbuilding giants.

On Thursday, South Korean shipbuilding stocks rose sharply against the relative weakness of the South Korean stock market index, following Donald Trump's announcement of his election as President of the United States and his expressed desire to closely cooperate with this Asian country. Yoon Seok-Yeol's phone call with Trump has fully boosted South Korean shipbuilding stocks, as investors believe that the shipbuilding and shipping industry, vital to the South Korean economy, will benefit greatly from the warming of US-Korea cooperation. Yoon Seok-Yeol also discussed US-Korea relations in his latest congratulatory message. Following South Korean President Yoon Seok-Yeol's phone call to congratulate him on his election as President of the United States, shares of South Korea's shipbuilding giant Hanwha Ocean surged by 15%, reaching their highest point since April 18. Another shipbuilding giant, Hyundai Heavy Industries, saw its shares rise significantly by 16%, while Samsung Heavy Industries' shares rose by 8.4%. These three major South Korean shipbuilding and shipping giants are among the top gainers in the MSCI Asia Pacific Index. However, due to negative expectations surrounding Trump's potential implementation of high tariffs that could suppress the export scale of Asian countries, the index has fallen for two consecutive days. Furthermore, many strategists believe that Trump's victory could be a short-term negative catalyst for the South Korean stock market, mainly due to his administration possibly implementing trade protectionist policies and imposing tariffs on all countries. Raj Singh, portfolio manager at Principal Asset Management in Hong Kong, said, "In Asia, we see some structural themes we like, such as India, where foreign exchange reserves are high and Reserve Bank of India policies are stable. Another opportunity we see is Taiwan, where the semiconductor industry will continue to benefit from massive capital spending by some of the largest tech giants we see in artificial intelligence. If there is a red sweep, the entire South Korean stock market may be impacted because of its high exports to the US." The market is betting on South Korean shipbuilding and shipping giants benefiting from the warming of US-Korea cooperation, mainly because South Korea has some of the world's most advanced and largest shipyards, while the US shipbuilding industry has nearly collapsed in recent years. Hanwha Ocean is currently purchasing a former naval shipyard in Philadelphia and recently secured a super contract to repair US Navy vessels, the first of its kind in Korean history. The logic behind the surge in shipbuilding stocks is also due to the announcement from the Seoul Presidential Office that President-elect Trump wishes to establish closer partnerships with South Korea, including strengthening cooperation in shipbuilding and other areas. The two leaders have agreed to meet in the near future. In a broader sense, the South Korean government and investors are concerned about the significant impact of the tariffs proposed by Trump before the election. If these tariffs are implemented, Trump's return to the White House could heavily impact South Korea's economy, a core pillar of which is its exports to the US, potentially causing the Korean won to fall to historic lows against the dollar and possibly stalling the rapid growth of the South Korean stock market in recent years. The South Korean composite stock price index has fallen for three consecutive days, reflecting market concerns about the potential impact of Trump's proposed tariffs on the South Korean economy.