Spearpower, a KOSDAQ-listed company, announced on the 11th that it recently signed memorandums of understanding (MOUs) with specialized companies such as Daeheung M&T (CEO Han Jae-hyun) and PM Energy Solution (CEO Hyun Deok-su) to advance its business into the Vietnamese market.
The companies that have committed to cooperate for entry into the Vietnamese market are engaged in specialized businesses such as resource recycling and secondary battery manufacturing. Daeheung M&T is promoting resource recycling business and has accumulated extensive expertise mainly in non-ferrous metal processing and recycling material collection and sales. PM Energy Solution has specialized personnel involved in battery manufacturing and energy storage system (ESS) manufacturing.
Spearpower plans to strengthen cooperation with related specialized companies such as Daeheung M&T and PM Energy Solution to enter the Vietnamese market and promote local business. In particular, it announced plans to pursue businesses related to ▲automobile and motorcycle parts ▲secondary batteries and energy storage systems (ESS) ▲eco-friendly businesses such as renewable energy, carbon emission rights, and recycling ▲composite materials including steel, non-ferrous metals, and special alloys.
A Spearpower representative stated, “We have conducted due diligence by thoroughly reviewing new business opportunities in the promising Vietnamese market, and we plan to promote full-scale commercialization by partnering with related specialized companies.”
In May, Spearpower declared the full-scale launch of new businesses through an extraordinary general meeting of shareholders and added manufacturing-related business purposes such as special alloys and material design, casting, and molding. On the 7th, through another extraordinary general meeting of shareholders, the company changed its name to ‘Arc Solutions Co., Ltd.’ and added business purposes including ▲battery remanufacturing and reuse product manufacturing, distribution, and sales ▲development, manufacturing, distribution, and supply sales of renewable energy and power storage batteries and power-saving devices ▲manufacturing and sales of military firearms, ammunition, and guided weapon parts ▲media content creation, character licensing, character franchise, and robot education content business.
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