![Oil price instability boosts renewable energy stocks... SK Eternix and others hit new highs [Jupjup Report] - Seoul Economic Daily Finance News from South Korea](https://wimg.sedaily.com/news/cms/2026/03/20/news-p.v1.20260319.8f7b6e87b2934916a74fb8ece54fb168_P1.png "Renewable Energy Stocks Surge Amid Oil Supply Concerns")
Renewable energy stocks including solar and wind power companies are attracting strong investor interest as energy supply concerns mount following threats to block the Strait of Hormuz and attacks on oil facilities. Policy expectations surrounding the "Energy Highway" initiative, a key agenda item of the Lee Jae-myung administration, are also fueling the rally.
According to the Korea Exchange on May 20, the energy sector recorded the highest gain among all sectors at 9.79%. SK Ocean Plant (100090) led with a 25.51% increase, followed by Unison (018000) at 21.90%, SK Eternix (475150) at 21.60%, Taewoong (044490) at 16.56%, SNT Energy (100840) at 14.08%, and Hanwha Solutions (009830) at 8.74%.
Analysts attribute the sustained rally in domestic solar and wind energy stocks to geopolitical tensions highlighting the need for energy independence. Securities analysts expect renewable energy companies, which do not require raw material imports, to maintain their strength for the time being.
Investor sentiment also received a boost from Korea Electric Power Corporation's announcement that it has begun design procedures for subsea cable routes, targeting the 2030 opening of the first phase of the West Coast high-voltage direct current (HVDC) Energy Highway.
The Energy Highway is a project to build power grids necessary for future growth in advanced industries. Its core component involves constructing four HVDC transmission networks to transport large-scale offshore wind and other renewable energy produced along the West Coast to major demand centers including the Seoul metropolitan area.
KEPCO plans to build the Energy Highway in phases through 2038. The first segment connecting Saemangeum and the Seoul metropolitan area is targeted for completion by 2030, one year ahead of the original schedule. To achieve this, KEPCO completed site selection for eight converter stations last year and made a final decision earlier this year to construct the HVDC transmission network undersea, taking into account economic feasibility, construction viability, and energy security.
