"Era of Eco-Friendly Investment: Beomhan Fuel Cell Follows Iljin Hysolus to Stock Market Debut"

[Asia Economy Reporter Lee Seon-ae] As the era of 'eco-friendly investment' opens, it is expected that there will be an increase in initial public offerings (IPOs) of companies that can benefit from the 'Green New Deal.'

According to the Korea Exchange on the 1st, Beomhan Fuel Cell recently filed for preliminary listing review with the KOSDAQ Market Headquarters. The company plans to receive preliminary approval within the year and enter the KOSDAQ market. This company was spun off in 2019 by Beomhan Industry, a specialized shipbuilding equipment company, to secure expertise in the hydrogen business. Its core business is fuel cells for submarines and unmanned underwater vehicles. Only two companies, Germany's Siemens and Beomhan Fuel Cell, have developed and commercialized fuel cells for submarines, securing competitiveness. Beomhan Fuel Cell is also developing fuel cells for unmanned underwater vehicles in collaboration with the Agency for Defense Development.

In addition to fuel cells for small vessels, the company is also developing hydrogen fuel cell-powered ships in cooperation with Gyeongsangnam-do Province. Beyond marine applications, after acquiring GS Caltex's military fuel cell business in 2015 and Hyundai Steel's building fuel cell business in 2018, the company has expanded its business into building and vehicle fuel cell sectors.

Given the high demand from investors for eco-friendly investments, Beomhan Fuel Cell's listing is expected to attract significant attention. Previously, Iljin Hysolus, which was listed on September 1st, recorded a "double jump," demonstrating strong popularity. The term "double jump" refers to a newly coined term where the opening price is twice the public offering price and then rises to the daily upper limit on the listing day. Iljin Hysolus operates an eco-friendly business model engaged in environmental projects (such as fine dust reduction devices) and hydrogen projects (including hydrogen tanks and modules).

A securities industry official stated, "As eco-friendly policies are being promoted worldwide, companies with eco-friendly businesses have high growth potential and will be at the center of leading themes. We expect more related companies to enter the stock market in the future."

Meanwhile, as investment has become a trend, six domestic asset management companies recently launched climate change solution ETFs (Exchange-Traded Funds) simultaneously. While existing eco-friendly investment products focused on carbon emissions themselves, climate change solution ETFs invest in companies that possess carbon reduction technologies and patents. All these stocks track the 'KRX Climate Change Solution Index' calculated by the Korea Exchange. A Korea Exchange official said, "In line with the recent trend of expanding ESG (Environmental, Social, and Governance) investment scale, we developed a new ESG index related to climate change to meet diverse investment demands. We expect that through the activation of the climate change index, investment in companies possessing low-carbon technologies will expand."