[Asia Economy Reporter Park Hyungsoo] Younghwa Tech is showing strong performance. The government's announcement of investing 73.4 trillion won in the 'Green New Deal' appears to have influenced the stock prices. As hydrogen car-related stocks such as Kolon Materials and Sejong Industrial surged simultaneously, Younghwa Tech, which has a relatively smaller market capitalization, also attracted attention.
At 10:43 AM on the 15th, Younghwa Tech was trading at 16,450 won, up 5.45% from the previous day.
Jung Eui-sun, Executive Vice Chairman of Hyundai Motor Company, introduced the world's first mass-produced hydrogen electric truck at the 'Korean New Deal National Report Conference' hosted by President Moon Jae-in the day before. Vice Chairman Jung stated, "We shipped it to Switzerland last week and plan to export a total of 1,600 units to Europe by 2025," adding, "the fuel cell system is the heart of hydrogen electric vehicles, and within 3 to 4 years, we aim to double its lifespan and reduce costs to less than half."
Selected as a representative presenter of the Green New Deal, Vice Chairman Jung emphasized, "Through win-win cooperation with startups and small and medium parts companies, we will compete in the global market and create many jobs."
Younghwa Tech continues to develop technology in the large hydrogen cargo vehicle sector. It is developing electric powertrain design and manufacturing technology and is also working on a high-voltage booster system for hydrogen fuel cell vehicles. Last year, Younghwa Tech signed a supply contract for hydrogen commercial vehicle LDC (Low Voltage DC-DC Converter) with Hyundai Motor. Younghwa Tech is developing a high-voltage booster system for hydrogen fuel cell vehicles in collaboration with the Korea Automotive Technology Institute and Seoul National University of Science and Technology. The plan is to mass-produce high-voltage boosters and electronic components for boosting that can reduce stack lamination water.
Younghwa Tech has decided to sell its treasury shares to secure funds for production facility investment for expansion.
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