[Featured Stock] Jogwang ILI Localizes Large Safety Relief Valve for Nuclear Power Plants... Nuclear Power Share Exceeds 30%

[Asia Economy Reporter Hyungsoo Park] Industrial special valve company Jogwang ILI is showing strong performance. The news of significantly expanding the domestic nuclear power generation (Nuclear Power Plant, NPP) share by 2030 appears to be influencing the stock price. Expectations from the free capital increase are also playing a role. Stocks related to free capital increases, such as Gonggu Woman and Moa Data, have all surged to the upper price limit.

As of 2:13 PM on the 5th, Jogwang ILI is trading at 14,200 KRW, up 15.45% from the previous trading day.

Jogwang ILI has set a goal to continuously expand its share by fostering high value-added products such as safety valves used in various industrial sectors through continuous research and development (R&D) investment.

Jogwang ILI has entered the Small Modular Reactor (SMR) business, which is expected to be a high value-added business, and is working to secure technological capabilities. In June last year, Jogwang ILI was invited to participate in the localization development of SMR safety relief valves (POSRV) by Korea Hydro & Nuclear Power and the Korea Institute of Machinery and Materials.

Jogwang ILI succeeded in localizing large safety relief valves (SRV) for nuclear power plants in 2020, competing with overseas companies in the nuclear power plant safety valve market, which is monopolized by a few companies worldwide due to manufacturing process difficulties.

Industry experts expect Jogwang ILI to secure growth momentum based on government support for parts localization, absence of domestic competitors, and higher price competitiveness compared to overseas competitors.

Jogwang ILI decided on a free capital increase allocating 5 new shares for every 1 existing share. The record date is the 15th of this month, and the new shares will be listed on the 5th of next month. Additionally, 3.5 billion KRW will be raised by issuing new shares to its shareholder Jogwang Ventures.

The government deliberated and approved the 'New Government Energy Policy Direction' at the 30th Cabinet meeting presided over by the President. According to the new government energy policy direction, the share of nuclear power generation will be expanded to over 30% by 2030. This is more than 6 percentage points higher than the 23.9% target set in the 2030 greenhouse gas reduction goal (NDC) established during the Moon Jae-in administration.