Sungil Hi-Tech Co., Ltd. Signs Investment Agreement Worth 130 Billion KRW for Saemangeum Industrial Complex
Investment Until 2023... Expecting Creation of Over 130 New Jobs
[Jeonju=Asia Economy Honam Reporting Headquarters, Reporter Kim Han-ho] Jeonbuk Province announced on the 10th that it has signed an investment agreement with Seongil High-Tech Co., Ltd. (CEO Lee Kang-myung) to establish a factory for extracting raw materials for cathode materials, a core material for electric vehicles' secondary batteries.
Through this agreement, Seongil High-Tech Co., Ltd. plans to invest 130 billion KRW by 2023 to build a production plant on 98,000㎡ (297,000 pyeong) in Saemangeum Industrial Complex Section 2, extracting cathode material raw materials from urban mine raw materials (waste batteries) and supplying them to secondary battery manufacturers, employing 130 workers.
Seongil High-Tech Co., Ltd. operates overseas subsidiaries in five countries including the United States, China, Hungary, India, and Malaysia, as well as its first and second plants within the Gunsan National Industrial Complex.
In particular, by additionally constructing a third plant in the Saemangeum Industrial Complex, Seongil High-Tech plans to extract valuable metals (raw materials for secondary battery cathode materials) through post-processing using battery powders such as cobalt, nickel, and lithium extracted from adjacent plants, and supply them to secondary battery manufacturers.
Seongil High-Tech Co., Ltd. is a globally recognized secondary battery recycling company. With the expected rapid increase in waste lithium secondary batteries due to growing demand for secondary batteries worldwide, the company decided to invest in the Saemangeum third plant to secure market leadership.
CEO Lee Kang-myung said, “We decided to invest after seeing the full support from Jeonbuk Province, Saemangeum Authority, and Gunsan City, as well as the future potential of Saemangeum. We will do our best to become a global leading company in the secondary battery materials sector, using the Saemangeum plant as a stepping stone, and become a representative company contributing to the regional economy.”
Governor Song Ha-jin said, “This large-scale investment decision not only has economic expectations but also symbolically shows that Saemangeum is emerging as a hub for new industries such as electric vehicles. We hope that Seongil High-Tech Co., Ltd. will grow into a representative company of Saemangeum through cooperation with related organizations including Jeollabuk-do based on the Saemangeum plant.”
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Jeonju=Honam Reporting Headquarters, Reporter Kim Han-ho stonepeak@asiae.co.kr
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