[Exclusive] 'Stock Price Plunge' Geumyang Breaks Through Crisis with Technology... Chairman Ryu Gwangji "From Now On, Cylindrical Shape"

Overcoming Challenges with Advanced Secondary Battery Technology
Expresses Strong Will for Early Completion of New Gijang Plant in Busan
Continued Efforts to Address Mongla Mine Suspicion and Secure Funding

Geumyang, whose stock price plummeted after being classified as a management stock by the Korea Exchange, is seeking a breakthrough by emphasizing its 'technological capabilities.' Geumyang is the first domestic secondary battery manufacturer to introduce a 46-pi (46mm diameter) cylindrical battery.

On the 7th, Ryu Gwang-ji, chairman of Geumyang, met with Asia Economy at 'InterBattery 2025,' the largest domestic battery exhibition held at COEX in Samseong-dong, Gangnam-gu, Seoul, and emphasized, "We need to set and present clear goals on how to advance technology." He also revealed plans to develop solid-state batteries to increase energy density and focus on cylindrical battery development. This is the first specific company operation policy announced at the chairman level since Geumyang was classified as a management stock on the 5th due to reasons such as 'disclosure reversal.'

On September 20 last year, Ryu Gwang-ji, Chairman of Geumyang, gave a greeting speech at the signing ceremony of the business agreement (MOU) with US Nanotech Energy held at Geumyang headquarters located in Gamjeon-dong, Sasang-gu, Busan. 2024.9.20 Yonhap News Photo by Yonhap

Chairman Ryu stated that they will respond to competition with China, which emphasizes 'low prices,' through differentiated technological capabilities. He said, "In battery production, improving yield is very important," adding, "We will develop core manufacturing technologies that can achieve higher yields than China." He continued, "We need to increase energy density with solid-state batteries," and added, "Improving charging speed is also necessary." At this InterBattery event, Geumyang unveiled a 4695 cylindrical battery capable of charging up to 80% in 10 minutes through technological cooperation with the Israeli company 'StoreDot,' which possesses fast-charging technology. Geumyang aims to commercialize this battery by the end of next year.

Chairman Ryu predicted that the cylindrical battery market will grow further. He said, "When talking with foreign figures, they all say that the future is definitely cylindrical." He added, "Geumyang has various heights of 46-pi cylindrical batteries. We will improve battery efficiency by enhancing the quality of battery constituent materials."

They are also accelerating the completion of a 53,000-pyeong (approximately 175,000 square meters) battery manufacturing plant being built in Gijang-gun, Busan. Geumyang originally planned to complete the new plant in December last year but postponed the operation schedule to May due to financial difficulties. Chairman Ryu mentioned, "I think the plant needs to be built quickly."

On the 7th, Geumyang exhibited its 4695 cylindrical battery at 'InterBattery 2025' held at COEX in Samseong-dong, Gangnam-gu, Seoul. This battery was developed through a collaboration between Geumyang and StoreDot, and it was announced that it supports 80% fast charging in 10 minutes. 2025.03.07. Photo by Shim Seong-ah

Previously, Geumyang attempted a paid-in capital increase worth around 400 billion KRW but withdrew the plan after strong opposition from minority shareholders. The Korea Exchange regarded this as a type of disclosure reversal, which is a form of non-compliance disclosure, and designated Geumyang as a management stock after a comprehensive evaluation. As a result, Geumyang was removed from the KOSPI 200 and was suspended from trading for one day. After trading resumed on the 6th, the stock price dropped by about 26% compared to the previous trading day.

Meanwhile, Geumyang stated that it will actively resolve suspicions related to the Mongolian Mongla mine and continue efforts to attract foreign investment and secure funding.