Wai Chun Details US$50 Billion Korea-Focused New Energy Push

Wai Chun Bio-Technology Ltd. ( (HK:0660) ) just unveiled an update.

Wai Chun Bio-Technology Limited has issued a supplemental announcement detailing a memorandum of understanding for strategic cooperation on global new energy projects, targeting a long-term overall project scale of US$50 billion in Korea. The company will act as lead developer, operator, principal investor and controlling shareholder, working with major EPC contractors such as China Construction Sixth Engineering Bureau International, CITIC Construction, POSCO and Doosan, alongside partners including Ming Yang Smart Energy, Korea South-East Power, Line Group and Green Harbor, supported by financiers like China CITIC Bank, SINOSURE, UK Export Finance and CUSTODIA Group.

Management says its existing relationship with CSCEC allowed it to connect and coordinate these parties, positioning the group to channel China’s low-cost, advanced wind and solar manufacturing capacity into Korea’s higher-tariff power market. The US$50 billion figure is described as a long-term cumulative target based on a potential pipeline of wind and solar projects in Korea, to be realised through rolling development, investment and project financing over the coming years, potentially reshaping the company’s business mix and exposure to overseas renewable energy returns.

More about Wai Chun Bio-Technology Ltd.

Wai Chun Bio-Technology Limited, incorporated in the Cayman Islands and listed in Hong Kong, is transitioning its focus toward the energy sector and has proposed changing its name to Wai Chun Energy Group Limited. Leveraging relationships with major Chinese and Korean engineering and power companies, as well as international financial institutions, the group aims to expand into high-value overseas new energy markets, particularly in Korea.

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Technical Sentiment Signal: Buy

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