Korea's big three shipbuilders - Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering - are expected to continue their upward trend well into next year.

Jeon Jae-cheon, researcher of Daishin Securities, stated, "a decrease in shipbuilders' results had been expected after hitting its peak this year, but higher results than the expectation are prospected thanks to a rise in the vessel prices."

"In particular, Samsung and Daewoo would see the their operating profit similar to this year's level in 2011," he added.

According to him, there are many positive momentums for the shipbuilding stock prices for the first quarter of next year.

As the oil drilling ban in the Gulf of Mexico has been lifted, drillship orders are beginning to be placed with newbuilding orders for mega boxships and offshore plants steadily placed.

The researcher added, "a new order momentum for offshore plants favors Samsung than Daewoo, but Daewoo would get ahead of Samsung in terms of expected return thanks to its higher price merit."

Daishin suggested a target stock price for Hyundai at KRW 515,000 ($442) by increasing 20%, Daewoo at KRW 43,000 by rising 19% and Samsung at KRW 44,000 with a 16% increase.