[Special Stock] Welcron Hantec Highlights Equipment Supply News for Posco Chemical-GM Cathode Material Supply

[Asia Economy Reporter Minwoo Lee] Welcron Hantec's stock price is on the rise. The news that POSCO Chemical will supply cathode materials to the electric vehicle battery joint venture of General Motors (GM) and LG Energy Solution has highlighted the fact that Welcron Hantec previously supplied related equipment to POSCO.

As of 2:32 PM on the 9th, Welcron Hantec's stock price recorded 3,105 KRW, up 19.42% from the previous day. The news of having supplied equipment to POSCO Chemical appears to have acted as a positive factor.

On the same day, POSCO Chemical announced that it will supply cathode materials for electric vehicle batteries to 'Ultium Cells,' the joint venture between GM and LG Energy Solution. With this supply, POSCO Chemical is expected to enter a full growth trajectory by increasing its market share in the global cathode materials market.

Previously, Welcron Hantec supplied lithium hydroxide facilities to POSCO in 2016 and has been providing cathode material extraction equipment. Since then, POSCO has steadily pursued the secondary battery materials business together with POSCO Chemtech. Last year, POSCO merged its secondary battery-related affiliates, POSCO Chemtech and POSCO ESM, to launch POSCO Chemical.