POSCO Chemical Breaks Ground on Artificial Graphite Anode Factory in Pohang Blue Valley Industrial Complex

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Dong-wook] Despite the ongoing domestic and international economic downturn caused by the novel coronavirus disease (COVID-19) crisis, significant investment news from major companies is being reported in the Pohang Blue Valley National Industrial Complex.

According to Pohang City on the 9th, POSCO Chemical will begin construction this month on an artificial graphite anode material factory worth 250 billion KRW in the Blue Valley Industrial Complex. This marks the start of full-scale investment following the signing of a memorandum of understanding (MOU) with Gyeongsangbuk-do Province and Pohang City last December.

POSCO Chemical is expected to lead the market by anticipating the demand for artificial graphite anode materials, which have superior output and storage capacity compared to natural graphite, in response to the rapid growth of the secondary battery industry.

Following POSCO Chemical's large-scale investment decision, other secondary battery material companies such as New Tech LIB have also continued their investments.

The Blue Valley Industrial Complex is also scheduled to sign an 'Investment MOU for Rental Industrial Complex' with 10 companies next month. Earlier in March, during the rental sale, conditions that alleviated the initial investment cost burden attracted a large number of small and medium-sized enterprises and venture companies with limited capital, resulting in the complete sale of the entire 120,000㎡ of announced area, setting a record.

Accordingly, Pohang City is consulting with the Korea Land and Housing Corporation (LH) on additional measures to quickly respond to corporate investment demand while securing the competitiveness of the industrial complex through the groundbreaking of the second phase of the industrial complex covering 3,140,745㎡ (950,000 pyeong) scheduled for September.

Mayor Lee Kang-deok of Pohang stated, "Despite various difficulties both domestically and internationally, including COVID-19, the competitiveness of the Pohang Blue Valley National Industrial Complex is being confirmed through successive corporate investments," adding, "We will do our best to attract companies with excellent technological capabilities to create jobs and revitalize the local economy."

This content was produced with the assistance of AI translation services.