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Woongjin Energy Rises on Hope Renewable Energy Demand to Rise

Woongjin Energy Co. led South Korean solar and wind power parts makers higher in Seoul trading on speculation demand for renewable energy will increase after explosions at nuclear reactors in Japan, Cho Seung Yeon, an analyst at HMC Investment Securities Co.

Woongjin Energy gained 4.6 percent to 14,900 won as of 1:50 p.m. Seoul time, while OCI Co. advanced 4.3 percent to 421,500 won. Taewoong Co., maker of parts for wind power plants, rose 4.6 percent.

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