[Special Stock] Dongyang Piston, Next-Generation Hydrogen Vehicle Fuel Cell System Development Project... Beneficiary of Green New Deal

[Asia Economy Reporter Hyungsoo Park] Dongyang Piston is showing strong performance. As hydrogen car-related stocks gain attention in the domestic stock market, the fact that the company produces enclosures and manifolds, which are considered key components of hydrogen cars, appears to be influencing its stock price.

As of 10:13 AM on the 15th, Dongyang Piston is trading at 6,900 KRW, up 24.55% from the previous day.

In November 2018, Dongyang Piston acquired the hydrogen fuel cell vehicle enclosure business division of Wooshin Industrial for business diversification purposes. The company supplies enclosures for hydrogen cars to Hyundai Motor Company.

Hydrogen cars require a key component called a "stack," which generates electricity by combining hydrogen with oxygen. The enclosure produced by Dongyang Piston wraps the stack to protect it from external shocks. The manifold serves as the pathway for hydrogen and oxygen and also provides waterproof and dustproof functions.

Yang Jun-gyu, CEO of Dongyang Piston, said in a previous interview with a media outlet, "Dongyang Piston was selected on June 26 for a national project supported by the Ministry of Trade, Industry and Energy to develop next-generation hydrogen fuel cell system technology."

Based on government project funding, Dongyang Piston is developing metal-plastic hybrid bonding technology and new casting technologies. The company is expected to contribute to the distribution and expansion of eco-friendly vehicles.