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Industry

Mplus to supply prismatic battery equipment to European battery company, entering defence market

Mplus has signed a contract to supply prismatic battery notching and stacking equipment to a European global battery company, the company said on Monday. The deal marks Mplus\' first transaction with a special-purpose battery company in the aerospace and defence sector. It said the market is shifting from pouch-type EV batteries toward prismatic ESS and defence-use batteries. Mplus also reported higher first-half net profit and operating profit.

People & Appointments

Ecopro brings forward executive reshuffle, promotes Choi Sang-woon and Park Jong-hwan to president

Ecopro brought forward its annual executive reshuffle by two months and carried out promotions and appointments on Sept. 30, the company said on Oct. 1. Choi Sang-woon and Park Jong-hwan were promoted to president and named CEO-designates of Ecopro and Ecopro HN, respectively. Song Ho-jun was named CEO-designate of Ecopro BM. Ecopro said the move aims to strengthen external cooperation, diversify businesses and improve execution of next year’s plans.

Finance

KOSPI reclaims 7,000 level, up 1.40 percent on institutional buying

South Korea\'s KOSPI rose more than 1 percent on Tuesday to reclaim the 7,000 level, supported by institutional buying and gains in semiconductor and secondary battery shares. The index ended up 97.12 points, or 1.40 percent, at 7,051.64 after touching the 7,100 level during the session. Institutions were net buyers, while individuals and foreigners sold. The KOSDAQ also advanced, and the won strengthened against the dollar.