Isu Specialty Chemical, which was spun off from Isu Chemical, has been soaring continuously after its split listing, drawing increased attention to the all-solid-state battery business in the domestic stock market. This trend is also affecting the stock price of Seokgyeong AT, which has filed a total of six patents related to all-solid-state electrolyte materials for secondary batteries.
As of 9:10 a.m. on the 8th, Seokgyeong AT is trading at 52,700 KRW, up 13.82% from the previous day.
Isu Specialty Chemical entered the KOSPI market on the 31st of last month following a spin-off from Isu Chemical. It started trading at 83,000 KRW, which is 100% higher than the re-listing reference price of 41,500 KRW on the first day. The stock price surpassed 220,000 KRW during the session. Its market capitalization exceeded 1.2 trillion KRW.
Choi Jae-ho, a researcher at Hana Securities, explained, "Seokgyeong AT is accelerating the commercialization of secondary battery materials, a new growth engine, and is expected to secure a monopolistic position in essential secondary battery materials based on nano technology."
He added, "Following the recent completion of development of boron oxide-based all-solid-state electrolytes and conductive materials, six patents related to all-solid-state electrolyte materials for secondary batteries, including ‘Boron Oxide and Molten Salt-based Solid Electrolyte and Its Manufacturing Method,’ have been filed."
Furthermore, he emphasized, "Ceramic-based TIM (Thermal Interface Materials), which play a role in heat dissipation for electric vehicle batteries, are also undergoing testing with customers for electric vehicle battery applications."
According to global market research firm QY Research, the global market size for TIM materials is expected to grow from 1.8 trillion KRW last year to 2.8 trillion KRW by 2028. It is a market anticipated to grow rapidly alongside the electric vehicle market and is one of the key materials ensuring electric vehicle battery safety by preventing battery overheating.
Researcher Choi analyzed, "Currently, most of these materials are imported, and there is a high demand for localization. It is highly likely that a monopolistic position will be secured through overcoming the limitations of secondary battery materials and localization." He added, "Despite having a growth advantage, it is undervalued compared to other secondary battery material companies."
Seokgyeong AT submitted an application to move into the Gimje Free Trade Zone in April. The results will be announced in June. Researcher Choi introduced, "The new factory is a proactive expansion to meet the demand from secondary battery customers," and "Currently, boron oxide-based all-solid-state electrolyte materials are preparing for testing with one of the three domestic secondary battery cell manufacturers." He stated, "A pilot line will be established," and "depending on progress, additional production lines will be expanded."
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