EcoPro Group plans to secure a total of 1.5 million units of nickel for electric vehicles annually through investment in a nickel smelter in Indonesia. This is close to the total domestic automobile sales volume in Korea, including both electric vehicles and internal combustion engine vehicles. On the 12th, Ecopro BM announced that it held an IR for domestic and foreign institutional investors from the 3rd to the 10th of this month. Through IR, the company explained the outline of the paid-in capital increase currently being promoted, its background, and the purpose of raising funds. First, Ecopro BM announced that it plans to acquire a stake in the BNSI smelter through a paid-in capital increase amid the Indonesian government's restrictions on licensing new nickel smelters. Nickel produced by the BNSI nickel smelter in Indonesia is classified as a ‘non-prohibited foreign entity’ raw material that meets the standards of the U.S. Foreign Organization of Concern (FEOC) guidelines. Raw materials from non-prohibited foreign institutions refer to nickel producers that can benefit from electric vehicle tax credits by avoiding the foreign concern institution regulations of the U.S. Inflation Reduction Act (IRA). In the first stage, the company will build the Indonesian Morowali Industrial Complex (I