Geumyang delayed the completion schedule of its secondary battery manufacturing plant in Busan's Gijang County, causing a sharp decline in its stock price from the first transaction day of the new year.
Geumyang's stock traded at 19,000 won on the KOSPI market at 10:16 a.m. on the 2nd. The stock price dropped by 10.38% (2,200 won) compared to the previous transaction day. Early in the session, the stock price fell to 18,450 won, marking the lowest price in the past year.
Geumyang postponed the completion date of the "Dongbusan E-PARK Industrial Complex secondary battery plant" to May 31, 2025, after the market closed on the 30th of last month. Previously, the plan was to complete the construction by the end of last year. The final installation date for the production equipment in this plant was also postponed by seven months to July 30, 2025.
Geumyang announced its decision to build the Dongbusan E-PARK Industrial Complex secondary battery plant in August 2023 and held a groundbreaking ceremony in September of last year. Geumyang plans to produce 4695 and 21700 cylindrical batteries at this plant.