Challenge of 'SoBuJang Special Listing' by Domestic 2nd Battery Equipment Company

Yunseong F&C, a Specialist in Secondary Battery Electrode Plate Mixing Process
Turnkey Manufacturing of Cathode-Anode Mixing Equipment, Successful Localization
Main Clients Are SK Innovation and LG Chem

Park Chi-young, CEO of Yoonseong F&C, explained, "In a challenging environment where domestic clients impose stricter standards on our products than on imported ones, we have pioneered a manufacturing breakthrough for secondary battery agitators through joint technology development with overseas companies." Photo by Kim Hee-yoon

[Asia Economy Reporter Kim Heeyoon] The first process in secondary battery manufacturing is the mixing (攪拌) operation, where battery materials are blended and applied to the electrodes. The process of mixing materials uniformly and at an appropriate viscosity is considered the most crucial step that determines the battery's performance. Especially, stable speed control and the ability to adjust the mixing ratio according to the battery type require advanced technical expertise. Amid the explosive growth of the secondary battery industry recently, there is an equipment company that has succeeded in domestic technology localization in the mixer market, which is the first stage of the production process. Yoonsung F&C is a domestic industrial mixing specialist manufacturer that started with food dairy mixers, passed through the bio-industry, and developed equipment for secondary batteries.

Since Sony developed the lithium-ion battery in 1991, the scope of application and demand for secondary batteries have expanded, turning the market into a focus of technological capabilities worldwide. However, Korea's market dominance in secondary battery component materials in the global market remains minimal. In particular, core technologies related to cathodes, anodes, separators, and electrolytes are highly dependent on Japanese and Chinese companies. In 2012, when Yoonsung F&C was growing through pharmaceutical mixing equipment manufacturing, it focused on the growth trend of the secondary battery market and entered the mixer development business.

Park Chiyoung, CEO of Yoonsung F&C, explained, “At the time of development, there was almost no domestic foundation for mixing technology for the battery industry, so it was difficult even to secure researchers. Especially, domestic clients set stricter standards for our products than imported ones, and under harsh conditions, we pioneered a path through joint technology development with overseas companies.” Through a joint venture with the Japanese company Primix, which has 94 years of experience, Yoonsung F&C introduced battery mixing solutions and developed cathode and anode mixing technologies for secondary batteries that surpassed those, achieving technology localization in a market dominated by Japanese companies.

Secondary battery material mixing equipment. Yoonsung F&C possesses technology to manufacture and supply the entire process in a turnkey manner, from the powder supply stage that provides raw materials to storage, stirring, and transfer. Photo by Yoonsung F&C

Pursuing ‘Materials, Parts, and Equipment Special Listing’ Based on Secondary Battery Mixing Process Technology

Secondary batteries are manufactured in the order of electrode process - assembly process - activation process. The very first electrode process is the step of making the cathode and anode electrodes of the secondary battery. Through mixing, the active material, conductive agent, binder, and solvent, which are cathode materials, are mixed and dispersed into a slurry form, then supplied through coating. Yoonsung F&C possesses technology to manufacture and supply the entire process turnkey?from powder supply of secondary battery raw materials, storage, mixing, to transfer.

In particular, it is recognized for its ability to respond swiftly to customers' facility expansion due to the recent increase in secondary battery demand by manufacturing large mixing equipment with a capacity of 4000L. CEO Park stated, “Ultimately, our strength lies in precise mixing technology, and there is a demand for developing larger products to improve customers' productivity. We plan to focus on R&D projects such as industry-academic cooperation to develop next-generation mixers like high-shear mixers that enhance electrode resistance characteristics during active material slurry mixing.”

With the expansion of the electric vehicle market and the government's renewable energy growth policies, the demand for secondary batteries is surging, and the equipment market is expanding accordingly. Market research firm SNE Research forecasts that global secondary battery demand has increased by an average of 26% annually since 2017 and will expand to $119 billion by 2025. Riding this wave, Yoonsung F&C, which began preparing for an IPO last year, is set to be listed this year through the special listing system for the materials, parts, and equipment industry. The expected public offering size is between 40 to 50 billion KRW, the largest among companies listed under the special materials, parts, and equipment scheme so far. CEO Park emphasized, “Our goal is to overcome the limitations of the equipment industry, which is heavily influenced by the industrial investment cycle. We will devote ourselves to developing new technologies in line with customer demand changes, such as technology development for all-solid-state batteries, called the dream battery.”

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