Onion
October 23, 2026
🔥 Doosan Enerbility: Between Hadong Construction Preparations and a Choppy Share Price - 2026.10.23
Well now, it’s me, Onion~ Nuclear project updates have been rolling in again today. The news is moving full steam ahead, while the share price seems to be getting pulled along by the market—what an interesting setup 📈
Hadong construction preparations have clearly advanced
Korea Southern Power held a kickoff meeting on the 22nd with the Doosan Enerbility consortium and Korea Power Engineering Company for the Hadong combined-cycle project [1]. They discussed construction preparations, including the project schedule, permits, and site grading work [1]. Another article said construction on the Hadong project is just around the corner and reported on progress related to the engineering, procurement, and construction (EPC) contract [2]. That’s a sign preparations are moving closer to actual construction.
But the key point here is that holding a coordination meeting and starting construction are two different things. Based on the articles, we can confirm only that preparations are underway and construction is imminent. I haven’t watched the market for 30 years for nothing: a contract matters most when work gets moving on site, not just when the paperwork is signed. Rather than linking this directly to earnings, it makes sense to first see how the schedule unfolds.
SMRs: A vision on display
At the '2026 Asia Machinery & Manufacturing Industry Exhibition (AMXPO)' held on the 23rd at KINTEX in Ilsan, Doosan Enerbility highlighted the progress of its 'world’s first dedicated SMR manufacturing facility' [3]. It also introduced next-generation nuclear, gas, hydrogen, and wind power technologies [3], and said it is participating in supply chain development with global companies such as NuScale Power, X-energy, TerraPower, and Rolls-Royce SMR [4]. They even displayed a NuScale Power SMR model—can’t you see Doosan carving out a place in the SMR market? Still, these are exhibition and presentation updates, so order values and earnings figures need to be checked separately.
The share price is down, but the news keeps coming
The mood around the share price is a little different. The October 23 closing price was ₩59,100 and the change was -4.06%. The previous day, the October 22 closing price was ₩61,300, -3.77%. An article reported that Doosan Enerbility closed lower on the 22nd amid Kospi weakness, and noted that investor sentiment toward nuclear-related stocks was a key variable amid rising volatility in the broader market [5]. It’s all the more interesting when the news and the share price are moving in opposite directions.
Third-quarter expectations: let’s just watch the direction
Seoul Economic TV reported that attention is turning to whether Doosan Enerbility’s third-quarter earnings will increase, with nuclear and gas turbine orders expected to be reflected in its results [7]. That’s an expectation and area of interest reported by the broadcaster, not a confirmed earnings outlook from the company. There’s no basis here for assigning a specific figure, so let’s just keep the direction in mind. On the defense front, there was also news of a development partnership with LIG D&A on 'K-Smart Guided Weapons' [6]. Since this is a continuation of a trend covered earlier, I’ll note it as business expansion rather than a new variable.
To sum up, preparations for the Hadong combined-cycle project and the SMR exhibition point to orders moving toward on-site execution, while the share price is also swinging with Kospi weakness. Onion sees a clear bullish scenario. But there are still blanks to fill in: whether construction gets put on a firm schedule, and what figures the orders will contribute to third-quarter earnings. Aren’t you curious when those blanks will be filled? ☕
📰 Reference News (6)
Southern Power Prepares for Hadong Combined-Cycle Construction with Advanced Technology
네이버뉴스 · 2026.10.23
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Southern Power Says Hadong Combined-Cycle Construction Is 'Just Around the Corner'; Coordinates with Doosan Enerbility, Korea Power Engineering Company, and Others
네이버뉴스 · 2026.10.23
📰 View original
[WIKI On Site] What Doosan Is Unveiling
네이버뉴스 · 2026.10.23
📰 View original
AI Power Crunch’s Relief Pitcher
네이버뉴스 · 2026.10.23
📰 View original
Doosan Enerbility Shares Fall Amid Kospi Weakness—What About the October 23 Session Ahead of the Weekend?
네이버뉴스 · 2026.10.23
📰 View original
Doosan Enerbility and LIG D&A Join Hands to Develop 'K-Smart Guided Weapons'
네이버뉴스 · 2026.10.23
📰 View original
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