So we are already focusing on the marketing activities that we can do before we get the certification and that has been somewhat completed. Regarding the kill, the certification process is a bit different from that of lithium. So this is 1 that goes into a precursor. And in [indiscernible], if we get a certification from the cathode company, then that would be the end. However, in most cases, battery companies, when we are dealing with a new factory, we go through another short form of the certification process. And with regards to electrical, steel, and EV motor core, I think Mr. [indiscernible] group leader of the marketing strategy, would be able to answer that.
Unidentified Company Representative: So I think you asked about the number of the EV motor cores per ton. Usually in 65 kilograms, it will be around 15 units being made. And as for detailed data, the IR team will be sending you the details.
Operator: Next question is from [indiscernible] from BBS. Please go ahead.
Unidentified Analyst: Yes, thank you very much for the opportunity. I have two questions. Basically, Q4, what is your projection for your earnings? And next year, I think that there are a lot of uncertainties. So what is your business performance outlook for next year? I would like to ask the overall profitability projection. And second has to do with nickel profitability. I think that on the Value Day there was a presentation made and based on that I think that with regard to nickel there were three big investment related items. You talked about Indonesia and second precursor in Korea, the nickel refinery, I guess. I think that it’s nickel surfate or precursor and also Indonesia MHP. So these projects, are these still ongoing?
That’s my question. The reason why I ask is because the Indonesian government recently, because of nickel prices, decided that it’s not going to grant any new projects. So that was released as news to report. And also, nickel project, I understand that in September you’ve launched the project already and I understand that POSCO Holdings has 49% of the stakes and the other partner has 51% stakes. I would like to ask who your Indonesian partner is, who your JV partner is. I think it’s something that you can provide us. And also, what is the cash cost? So these are some of the questions related to your nickel projects. Thank you.
Unidentified Company Representative: Thank you very much. I’m the head of marketing strategy office. You talked about Q4 outcome. Well, as I mentioned earlier, Q4 market outlook is not that positive. I think that it’s going to be more or less stay weak in continuation of Q3 results. So basically, with regard to our sales strategies, we’re going to focus on shipbuilding and also auto making industries where the business outlook is quite positive. So we’ll be focusing on those for ourselves. And as I mentioned earlier, we are going to focus on cost-cutting efforts as well internally so we can maintain high profitability. And domestic demand is not that good so we will be focusing on exports. Of course, export prices are still low but we’re going to focus on changing our sales mix and try to sell more high value added products in order to maintain profitability.
And the second question has to do with 2024 market projection. Well, recently, I think that in October at WSE, there was a global steel market projection and the outlook was that it’s going to grow by about 2.9%, which is quite similar to 2023. But in Korea, it’s going to be around 1.1%. So compared to 3.3% of this year, I think that it’s going to slow down even further next year. And China, I think that it’s going to be staying flat. So Q1, 2024, until then, I think that Q4 market outlook, that weakness is going to continue. And if you look at SNS and Russian Putin-related issues are coming up. So again, the Ukraine and Russia war and the recent Israel and Palestine war. And we also have a high interest rate and also high oil price issues.
So because of all these mixed factors, I think that we have to wait until Q1 next year to get some clear understanding about the 2024 market projection. Thank you.
