Korean investors sunk money into defense themed stocks upon news of Trump winning the 2024 U.S. President Election. Satrec Initiative (KOSDAQ: 099320) was among the largest binifibrates. Satrec Initiative stock, trading at a 30% lull from mid-summer highs enjoyed 16% increases over November 6th and 7th. (Due to the time difference, on November 6th at time of KOSDAQ close, Trump’s win looked likely but was uncertain. Trump’s victory confirmed overnight before the November 7th market open in Korea.)
Korean rocket manufacturer Innospace also saw its stock rise on the same news. Innowapce stock (KOSDAQ: 462350) was also up 15.6% over November 6th-7th. These levels seems risky for a company with no proven orbital launches. Innospace is currently planning its first orbital launch attempt in 2025. With this new found gains, the stock now trades at just over half its IPO price of 43,300 won from July.