[Special Stocks] "Receiving US Subsidies"... JSC Holdings, Dynamic Design, STX, and Others Rally

Nickel-related stocks are showing strength. This is interpreted as the announcement of the implementation guidelines for the U.S. Inflation Reduction Act (IRA) benefiting companies related to the critical mineral nickel, impacting stock prices.

As of 11:07 AM on the 3rd, Jaesco Holdings is trading at 2,855 KRW, up 4.96% from the previous trading day. Dynamic Design is hitting the upper price limit amid expectations related to its Indonesian nickel mining business. STX, which holds a 1.67% stake in the Ambatovy nickel mine in Africa, is also rising by 8.93%.

The U.S. Department of the Treasury announced on the 31st (local time) the detailed guidelines for the IRA electric vehicle tax credit, which the industry had been eagerly awaiting, and stated that it will be implemented starting April 18.

Korean battery companies can now receive tax credits if they import critical minerals used in batteries such as lithium, nickel, manganese, graphite, and cobalt from countries without a Free Trade Agreement (FTA) with the U.S., process them in Korea, and create more than 50% added value.

Meanwhile, Jaesco Holdings is preparing to acquire a stake in EVMD (EV Mining & Development) to fully launch its Philippine nickel ore project in April. A company official said, “The domestic administrative procedures related to the foreign exchange remittance for the Philippine investment to acquire EVMD shares are in the final stages, so the remittance and stake acquisition will proceed smoothly as planned.”

This content was produced with the assistance of AI translation services.