[Featured Stock] SC Engineering Rises on News of Saemangeum Development Agency's Additional 500 Billion KRW Investment in Secondary Battery Materials

by Jang Hyowon

Published 31 Mar.2023 13:35(KST)

STC Engineering's stock price has been on the rise for consecutive days. This is interpreted as being influenced by the recent announcement of large-scale secondary battery-related investments within the Saemangeum complex, along with STC Engineering's recent signing of an EPC (Engineering, Procurement, and Construction) contract for secondary battery production facilities.

As of 1:34 PM on the 31st, STC Engineering is trading at 1,780 KRW, up 4.59% compared to the previous trading day.

On the 30th, the Saemangeum Development Authority announced that it had signed a lease contract with Hydro Lithium and Urban Lithium to build lithium compound mass production plants. With a total scale of 500 billion KRW, Hydro Lithium and Urban Lithium plan to begin construction of lithium hydroxide and lithium carbonate mass production plants within the first half of this year.

Additionally, on the 23rd, the Saemangeum Development Authority announced that GEM Korea New Energy Materials (hereinafter GEM Korea) will build a 1.21 trillion KRW scale secondary battery precursor production facility in the Saemangeum National Industrial Complex. GEM Korea is an investment corporation jointly established by South Korea's SK On and EcoPro Materials, and China's GEM.

On the 21st of last month, STC Engineering signed a project contract worth 7.7 billion KRW related to the construction of core secondary battery material production facilities with SK Materials Group14. STC Engineering will undertake the EPC for civil engineering works related to the expansion of the second silicon anode material production plant being established by SK Materials Group14 in Sangju City, Gyeongbuk Province.