Shinseong ST Acquires US Subsidiary Shares for 14.4 Billion Won

Shinsung ST announced on the 19th that it acquired one share of its subsidiary manufacturing battery components for electric vehicles (EV) and energy storage systems (ESS) in the United States for 14.439 billion KRW.

This represents approximately 14.9% of its equity capital. After the acquisition, the ownership stake is 100%.

Shinsung ST explained that the purpose of acquiring the subsidiary's shares is "to pay for facility investment for mass production of core ESS components."