Shares of HD Hyundai Mipo (KRX:010620) rose nearly 3% in early trade on Friday after the company posted first-quarter net income attributable to shareholders of the parent company of 49 billion won, up 2,622.2% from 1.8 billion won a year earlier.

The company's sales jumped 18.3% year over year to 1.184 trillion won from 1 trillion won, the South Korean shipbuilder said in a Thursday regulatory filing with the Korea Exchange.