Samyoung is showing strength. It is interpreted to be influenced by the news that the United States will provide tax credit benefits to all clean energy facilities with zero greenhouse gas emissions.
As of 2:12 PM on the 30th, Samyoung is trading at 3,515 KRW, up 6.52% from the previous day.
The day before, the U.S. Department of the Treasury unveiled a rule under the Inflation Reduction Act (IRA) regarding tax credits for clean electricity production and investment, which provides tax credit benefits to all clean energy facilities that emit no greenhouse gases starting in 2025.
The new rule, which will replace the current Production Tax Credit (PTC) and Investment Tax Credit (ITC) from 2025, is characterized by providing incentives for the first time to all clean energy facilities with net zero greenhouse gas emissions, the Treasury explained. The Treasury cited technologies such as wind, solar, hydro, nuclear fission and fusion, geothermal, and certain types of Waste Energy Recovery Plants (WERP) as examples.
It also established methods for energy storage technologies to qualify for tax credits. As a result, the scope of clean energy tax credits is expected to expand widely beyond just solar and wind projects.
Meanwhile, Samyoung is the only domestic manufacturer of capacitor films, a core material used in film-type capacitors for inverters used in eco-friendly power generation such as wind, solar, tidal, and hydro power, as well as energy storage systems (ESS). It ranks third in the global market share.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
