Geumyang has postponed the completion date for its investment in 21700 cylindrical battery coater equipment at its Gijang secondary battery plant to February 2027.

According to Geumyang's corrected capital expenditure disclosure on the 30th, the end date of this investment period was changed from the previous July 31, 2026, to February 28, 2027. Accordingly, the total investment period has been adjusted to run from July 28, 2023, to February 28, 2027.

The reason for the correction is 'a delay in equipment installation due to delayed factory completion.' As the factory completion schedule was pushed back, the installation schedule for production equipment was also postponed accordingly.

Among the key investment terms, the investment amount remains unchanged. The investment target is the anode and cathode coater equipment within the 21700 cylindrical battery production line at the Gijang secondary battery plant. Geumyang plans to use this equipment to begin full-scale construction of mass-production facilities for secondary batteries at the plant.

The investment amount is 17.5 billion won (17,500,000,000 won), excluding value-added tax. This is equivalent to 14.35% of the company's equity capital (12,193,631,567 won) based on its consolidated financial statements at the end of 2022. Payment will be made in installments: 30% as a down payment, 60% as an interim payment, and 10% as the balance.

The company added, "The investment period is based on the scheduled completion date of equipment installation under the contract," and "The investment period and amount may change depending on the future progress of the project."