[Featured Stock] EcoPro Hits New High Again... Surges Over 13%

EcoPro, a stock related to secondary batteries, is showing a surge of over 10% in the early trading session.

As of 9:39 AM on the 15th, EcoPro is trading at 422,000 KRW, up 13.75% from the previous trading day on the KOSDAQ market. It has set a new record high once again following the previous trading day.

EcoPro (10.9052 trillion KRW) has overtaken Celltrion Healthcare (9.5584 trillion KRW) to claim the second position in KOSDAQ market capitalization.

The surge in EcoPro’s stock price is attributed to the benefits from the European Critical Raw Materials Act (CRMA) and the signing of an MOU (Memorandum of Understanding) with SK Eco Plant for European battery recycling.

EcoPro, SK Eco Plant, and TES announced yesterday that they signed an MOU for 'battery recycling business cooperation in the European region.'

The three companies plan to collaborate to establish a closed-loop circular system that manufactures batteries again using rare metals such as lithium, cobalt, and nickel recovered from used batteries, aiming to solve global environmental and energy issues and contribute to the realization of a circular economy.

Expectations are growing that EcoPro Group’s used battery recycling and lithium refining businesses will benefit from the upcoming announcement of the Critical Raw Materials Act (CRMA), known as the European version of the Inflation Reduction Act (IRA). The European Union (EU) Commission is expected to include mandatory use of recycled materials from used batteries in the CRMA draft.