[Edaily Reporter Kwon Oh Seok ] Welcron Company Limited(065950)’s stock price is surging in early trading. It appears that buying interest is surging following news of a supply partnership with an Indonesian state-owned defense contractor.

According to MP Doctor on the 16th, Welcron Company Limited’s stock was trading at 1,494 won as of 9:20 a.m., up 20.78% from the previous trading day.
Earlier today, the company issued a press release announcing, “We have signed a Memorandum of Agreement (MOA) with PT Pindad to supply mine protection kits for wheeled armored vehicles.”
Through this collaboration, Welcron Company Limited will establish a supply partnership with Pindad based on its independently developed armored vehicle protection technology. Pindad is Indonesia’s leading state-owned defense contractor, developing and producing a wide range of ground weapon systems, including military vehicles, armored vehicles, small arms, and ammunition.
Welcron Company Limited is expected to gain momentum in diversifying its portfolio—including high-value-added “add-on armor” for armored vehicles and naval vessels—in addition to its solid dominance in the existing personal protection (body armor and bulletproof plates) market, starting with this joint development of overseas military vehicle protection.
Welcron Company Limited’s Defense Division has been actively expanding its business since 2018 by fulfilling contracts to supply body armor plates for personal protection. In 2020, the company signed a 19 billion won contract with the Defense Acquisition Program Administration (DAPA) to supply body armor plates. Furthermore, through technological advancements, it has supplied add-on armor for wheeled armored vehicles, body armor plates for high-speed boats and high-speed landing craft, and body armor plates for small tactical vehicles to major domestic defense conglomerates.