Hanhwa Marine's stock price has surged, as Trump's memo opens the door for foreign shipyards to build vessels for the U.S. Navy.

South Korean Hanwha Marine's stock price rose by as much as 9.6% during Friday's early trading session, marking a six-week high in intraday trading. U.S. President Trump directed the Department of Defense to advance its procurement plan: foreign shipbuilding companies that invest in U.S. shipyards may construct up to two U.S. Navy vessels at their parent company's shipyard. The plan aims to expand U.S. shipbuilding capacity. This policy is detailed in a presidential memorandum signed on Thursday and applies to two types of foreign companies: those that build new shipyards in the U.S. or acquire existing American shipyards and gain a majority stake; subsequent vessels must be constructed within the U.S. mainland.