[Featured Stock] 200 Trillion Won Loss in a Single Blaze... Jeil Electric, the 'Fire Guardian' of LA Wildfires, in the Spotlight

Jeil Electric has been soaring for the second consecutive day. The simultaneous wildfires in Los Angeles (LA), Western United States, have continued for five days, causing astronomical property damage, which appears to be affecting the stock price. The dry weather and issuance of strong wind warnings have made firefighting difficult. According to preliminary estimates by AccuWeather, the damage and economic losses so far amount to $135 billion to $150 billion (approximately 200 trillion to 221 trillion KRW). It is likely to remain the largest disaster in U.S. history.

As of 9:51 a.m. on the 13th, Jeil Electric is trading at 13,550 KRW, up 17.83% from the previous trading day. After soaring about 27% on the 10th, it has continued its upward trend for two consecutive days.

Jeil Electric, a leading domestic smart distribution equipment company, is the largest manufacturer of wiring devices and relays in Korea. It is a key parts supplier to Eaton, the largest power management company in the U.S. It has exclusively supplied PCBA (Printed Circuit Board Assembly) for arc fault circuit interrupters (AFCI) for over 20 years.

An arc fault circuit interrupter is a product that prevents fires by cutting off the current when an arc (electrical discharge), a major cause of fires in the U.S. housing market dominated by wooden buildings, occurs. Installation in homes across the U.S. is mandatory by law. Because U.S. houses are mostly wooden, fires caused by arc sparks generated when plugging and unplugging electrical devices are frequent.

Jeil Electric has also completed the development of a new arc fault circuit interrupter, the "Smart Breaker 2.0," to be supplied to Eaton. The company has advanced the full-scale mass production schedule to early this year. Jeil Electric supplies the PCB assembly, a core component of the Smart Breaker 2.0. The Smart Breaker 2.0 is equipped with Wi-Fi functionality, enabling real-time power consumption monitoring and optimizing the usage environment of electrical products by saving power. The company explained that, separate from the AFCI product transactions supplied to Eaton’s residential division, it has secured a new sales channel by supplying PCB assemblies through a new partnership with Eaton’s ‘Connected Solutions’ division.

According to energy consulting firm Wood Mackenzie, approximately 10 gigawatts of power storage capacity will be additionally required in the U.S. residential sector by 2028. Accordingly, demand for the Smart Breaker 2.0, which can be linked with smart grid systems including North American residential energy storage systems (ESS), high-performance electric vehicle charging facilities, and solar power systems, is also expected to increase.