[Special Stock] Daesung Hightech Accompanies Yoon's US Economic Delegation... Rising Expectations for Secondary Battery Equipment's Entry into the US Market

Daesung Hitech is showing strong performance. It is interpreted that this is influenced by the news that the chairman of Daesung Hitech will accompany President Yoon Seok-yeol on his state visit to the United States.

As of 10:41 AM on the 20th, Daesung Hitech is trading at 13,050 KRW, up 4.48% compared to the previous day.

The day before, the Federation of Korean Industries (FKI) announced the list of economic delegations accompanying President Yoon on his state visit to the United States. The economic delegation consists of 19 large companies, 21 mid-sized companies, 64 small and medium-sized enterprises, along with 14 economic organizations and associations, and 4 public enterprises.

Since the theme of this visit to the U.S. is advanced industries, companies in the semiconductor, aerospace, defense industry, energy, bio, and mobility sectors accounted for a significant portion of the economic delegation. Additionally, the ratio of small and medium-sized enterprises and mid-sized companies reached 70%.

The economic delegation plans to attend the Korea-U.S. Advanced Industry Forum hosted by the FKI and the U.S. Chamber of Commerce, the White House welcoming event, and the Korea-U.S. Cluster Roundtable hosted by the Ministry of SMEs and Startups to discuss economic and industrial cooperation measures between the two countries.

Furthermore, they will have opportunities to build networks and expand business by meeting with U.S. government officials and businesspeople.

Meanwhile, Daesung Hitech, established in 1995, is a manufacturer of industrial machinery. In 2014, it acquired Nomura VTC, a Japanese machine tool company, and entered the Swiss-turn automatic lathe manufacturing business producing ultra-precision parts. Since last year, it has been expanding its precision parts business in advanced industries such as robotics, electric vehicles, defense, and semiconductors.

Researcher Cho Jeong-hyun of Hana Securities said, "Daesung Hitech is expected to expand orders for compact machining centers as the U.S. Inflation Reduction Act (IRA) accelerates the expansion of the three domestic battery companies in the U.S.," adding, "They are conducting tests to supply core parts to global robot companies, so expansion of the precision parts business is also anticipated."