Unidentified Company Representative: And as for your [indiscernible] question. I think that last May we started our operation. At this point in time, certification-wise, the Korean government actually grants certification and we have some raw materials that related companies getting the certifications and the targets for us is that by the end of this year we do normal operations and qualify for all the quality standards so that by first half of next year we complete all certification process so that in the second half of next year we can start rolling out certified quality level products. What’s positive at this point in time is that we are trying to align ourselves with the yield target. Now the recovery rate I believe is quite good for lithium.
Our target was about 85% recovery. However, last month it reached up to 93%. That’s for lithium. So technology-wise, I think that we see results that is greater than our expectations. So yes, we are going to get this certification by early next year and start producing, starting from the letter of next year.
Operator: Next question will be [indiscernible] Securities. Please go ahead.
Unidentified Analyst: So hello, I’m [indiscernible] Securities. I have two questions. First, as said before, interest as for POSCO [indiscernible] completion, even when you do consider it and it takes around six months to one year for the end of the certification, then as for POSCO [indiscernible] what is the utilization rate that you’re expecting for next year and when you look at the entire lithium business what is the profit guidance that you have in mind so if you could let us know that will be very helpful. And secondly as for the lithium business and as for the nickel, do we also need battery certification? And as for the lithium business, and in the same manner, do we have to go through a six month to a 12 month certification?
Is there a commodity that requires that long in terms of certification. And also with the EV steel plate, how much of the EV motor core can we produce with the electrical steel? And also, can we actually sell it as something that we can use for the EV motor core.
Unidentified Company Representative: With regards to PPLS, let me provide an answer to it. So in the previous IR and in our Value Day, we talked about the following. So as for ramp up period, we thought we are targeting around 12 months. And in TRUCE, the internal target is the following. So as for the ramp up period, we are trying to pull it in to around nine months, so we are hoping to accelerate that period. And if we can be fast, then as for PPLS, we’re expecting in the second half of next year or the third quarter, we can actually target normal operation. As for the certification for lithium in the precursor, we add the lithium there. And therefore, for the cathode company and the battery company, we need certification both for both.
And right now, Future M already has the cathode business being certified in there. So therefore, we believe that we will be able to shorten the certification period. Normally, certification takes around nine months to 12 months, but with Future M and with the battery company, we have talked and discussed that we can target around six months of the certification period. And that is the discussions that we carried out. And as for the lithium businesses, import guidance and the profit guidance, we are trying to ramp it up within six to nine months. And afterwards, if we can sell it at a normal level, that is something that we have in target. And as for lithium and as for PPLS, in advance, even without certification. As for the lithium electrolyzer material and et cetera, we are trying to cooperate with those companies so that we can sell our [indiscernible].
