[Market Focus] Foosung Surges on News of Supply Contract with U.S. Company

As of 10:00 a.m. on October 27, shares of Foosung were trading at 9,360 won on the Korea Exchange, up 18.48% from the previous closing price. This surge appears to be due to a securities firm report stating that the company has signed a supply contract with a U.S. company.

Foosung is the only domestic manufacturer that produces both lithium hexafluorophosphate (LiPF6) electrolyte for secondary batteries and specialty gases for semiconductors such as hexafluorobutadiene (C4F6). On this day, Eugene Investment & Securities stated, "Recently, Foosung is reported to have signed a supply contract for LiPF6 with a global U.S. company," and analyzed, "The contract volume is estimated to be about 20-30% of the company's domestic production capacity." As a result, the company’s operating loss for LiPF6 this year is estimated to be around 30 billion won, but the loss is expected to decrease significantly from next year, with a high possibility of turning to profit in 2027.

Previously, on October 23, Foosung announced that it had secured an investment of 27 billion won through the issuance of registered, unsecured, privately placed convertible bonds from private equity funds such as Heimdall and Cornerstone. On the following day, October 24, the share price rose sharply.