ISU Specialty Chemical jumped more than 8% early on the 27th. The rally is seen as driven by expectations following news of government support, which boosted investor sentiment.
As of 10:08 a.m. on the day, on the Korea Exchange, ISU Specialty Chemical was trading at 114,300 won, up 7,500 won (7.02%) from the previous session.
The Financial Services Commission said it convened the Public Growth Fund's investment review committee the day before and approved a plan to provide low-interest loans through the advanced strategic industry fund to Samsung Electronics and ISU Specialty Chemical.
Under the approval, 2.5 trillion won will be provided to Samsung Electronics and 100 billion won to ISU Specialty Chemical, respectively.
ISU Specialty Chemical will build a plant in Onsan-eup, Ulju-gun, Ulsan, to produce lithium sulfide (Li2S), a key material for next-generation secondary batteries known as solid-state batteries. To that end, the advanced strategic industry fund decided to extend a long-term loan of 100 billion won for 10 years at an interest rate in the low 3% range.