South Korean shipping stocks fell on Tuesday as concerns mounted over a prolonged global trade slowdown driven by U.S. tariff policies, while Hanmi Pharmaceutical gained after announcing a technology transfer deal with Gilead Sciences, Maeil Business Newspaper Korea’s Pulse reported.
Shares of shipping major HMM Co. dropped 0.7% to 20,450 won ($14.58), while Pan Ocean Co. fell 1.0% and Korea Line Corp. edged down 0.1%. Samsung Securities downgraded HMM from “buy” to “hold,” slashing its target price to 22,000 won, citing continued weakness in container freight rates and bulk shipping corrections amid U.S. tariff risks and ongoing vessel deliveries.
“Container freight rate declines are dragging on, and bulk rates face a post-peak correction, with risks compounded by U.S. tariff policies and ongoing new vessel deliveries,” Samsung Securities analyst Kim Young-ho said.
In contrast, Hanmi Pharmaceutical Co. gained 2.15% to 380,500 won after revealing it had signed a global licensing deal with Gilead Sciences and Hong Kong-based Health Hope Pharma (HHP) for its oral absorption enhancer Encequidar. The agreement gives Gilead exclusive worldwide rights, with Hanmi and HHP set to receive upfront, milestone, and royalty payments.
Korea Investment & Securities noted that the 3.5 billion won upfront payment will be booked in the third quarter of 2025, easing earnings uncertainty. The brokerage reaffirmed Hanmi as its “top pick,” with a target price of 520,000 won.
At the close, HMM shares stood at 20,050 won, while Hanmi Pharmaceutical settled at 367,000 won.
