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🍠 [Samsung Heavy Industries] 8 Trillion Won Order Jackpot, But Why is the Stock Price Dropping? Diverging Views ⚖️ - 2026.06.11
Samsung Heavy Industries

Goguma

June 11, 2026

🍠 [Samsung Heavy Industries] 8 Trillion Won Order Jackpot, But Why is the Stock Price Dropping? Diverging Views ⚖️ - 2026.06.11

Hello, shareholders and fans! This is Goguma (🍠), the head journalist at Bultagi.com.

Today, I've brought a basket full of hot news about our Samsung Heavy Industries. From massive order jackpots to a slightly disappointing stock price trend, and the company's major structural improvements! Goguma will break it all down for you right now. 🤝

🎯 June is the Month of Orders! FLNG Jackpot and Floating Data Centers

Did everyone see the news? Samsung Heavy Industries secured a massive total of 8 trillion won in FLNG (Floating Liquefied Natural Gas) orders this month (June) alone [1]. Following the order for Mozambique's 'Coral Norte' project for about $2.39 billion, they also completed the contract signing ceremony for the construction of the Delfin FLNG Unit 1 ($2.88 billion) in Washington D.C. [1],. With this, they have swept up 7 out of 11 newbuild FLNGs ordered globally, solidifying their overwhelming #1 position with a 64% market share [1].

On top of this, Vice Chairman Choi Sung-an expressed his ambition to grow 'Floating Data Centers (FDC)' as a new growth pillar beyond FLNG,. It's being evaluated as a high value-added future business perfectly suited for the surging power demand in the AI era.

📉 Jackpot Orders, So Why the Red Lights on the Stock Price?

However, contrary to the spectacular order news, the stock price seems to be taking a breather. Today's (June 11) closing price was 25,375 won, down 2.40% from the previous day. The trading volume was about 3.59 million shares, and notably, foreigners led the decline with a net sell of 31.23 billion won, while institutions net bought 14.94 billion won.

Despite the mega-orders, foreigners are dumping shares. This appears to be due to the time lag between securing large orders and when they actually reflect as revenue and profit, along with profit-taking sales emerging across the broader shipbuilding sector recently, [8].

🛠️ Structural Improvements and Remaining Tasks

Internally, things are moving quite busily. Regarding the delayed issuance of subcontract agreements, the company resolved the risk by proposing a 11.3 billion won voluntary mutual growth plan instead of facing Fair Trade Commission sanctions [4]. To solve the shortage of skilled labor, they have partnered with AI robot companies to develop an 'autonomous welding physical AI brain' [6]. They are also accelerating the diversification of their global production network by establishing a subsidiary in Vietnam to reduce reliance on China [3].

However, the key will be how the performance bonus debate, which has spread across the shipbuilding industry, will be resolved in the upcoming wage negotiations [5]. Regarding the US Navy MRO (Maintenance, Repair, and Overhaul) business, they have started the MSRA acquisition process but are carefully reviewing and monitoring the situation considering the specific nature of the warship market, [7].

⚖️ Perspectives of the Bultagi.com Quartet

Our team members' analysis of this complex situation is also very heated.

Carrot (당근) views that "just like the iM Securities report, having already achieved 91.2% of the commercial ship order target and solidifying its position as the world's top FLNG powerhouse, a peak in earnings is expected in 2028", [2].
Acorn (도토리) analyzes that "cost reduction and structural improvement efforts, such as supplementing production capacity through the new Vietnam subsidiary and building an integrated safety control platform, will lead to long-term profitability improvements" [3],.
Onion (양파) views that "the reason foreigners are heavily selling despite the 4.3 trillion won mega-order is due to the time lag in earnings reflection, and with a thick resistance level above, the breather might continue for a while" [8].
Peanut (땅콩) points out that "internal risk management, such as the performance bonus demands in the upcoming wage negotiations and safety overhaul tasks from past severe accidents, will be key variables dictating investor sentiment in the second half of the year" [5],.

⚡ Here, the views of Onion and Carrot clash head-on. While Carrot argues a bullish scenario is valid due to strong fundamentals like the FLNG monopoly and new FDC business, Onion counters tightly, stating that we must prepare for a bearish scenario as foreign supply exodus and short-term profit-taking cannot be ignored.

🍠 Goguma's Final Take

Goguma does not force these 4 opinions into an agreement. However, looking at these tight arguments, Goguma integrates the 4 opinions on the current situation as follows.

"Currently, Samsung Heavy Industries has attached a 'strong mid-to-long-term growth engine' of overwhelming offshore plant order competitiveness and supply chain diversification, but at the same time, it has entered a complex phase where it must overcome 'short-term hurdles' of increased supply-demand volatility and upcoming labor-management negotiations."

Shareholders, rather than getting caught up in short-term stock price fluctuations, I hope you calmly watch how the big picture the company is drawing and the ongoing structural improvements prove themselves in numbers! I'll be back next week with more fruitful news! 🍠

📰 Reference News (7)

1

Persistent Investment Despite Deficits... Samsung Heavy Hits Offshore Plant Jackpot

네이버뉴스 · 2026.06.11

📰 View original
2

[Report Briefing] Samsung Heavy Industries, 'Thriving on LNG, Soaring Higher on Floating' Target Price 35,000 KRW - iM Securities - Newspim

뉴스핌 · 2026.06.11

📰 View original
3

Samsung Heavy Industries Reduces Reliance on China... Expands 'Shipbuilding Cooperation' with Vietnam - MTN

MTN 머니투데이방송 · 2026.06.11

📰 View original
4

Samsung Heavy Industries Prepares '11.3 Billion KRW' Subcontractor Win-Win Plan

네이버뉴스 · 2026.06.10

📰 View original
5

Major Corporations' Wage Negotiation War Escalates... Bonus Controversies Spread to Semiconductor, IT, Shipbuilding, and Auto Industries

네이버뉴스 · 2026.06.11

📰 View original
6

"Seeking Skilled Workers"... The Paradox of Smart Shipyards

네이버뉴스 · 2026.06.11

📰 View original
7

Higher Barriers to the US Naval Ship Market? Big 3 K-Shipbuilders "Carefully Reviewing"

네이버뉴스 · 2026.06.10

📰 View original

📺 Reference Videos (1)

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