Iljin Materials Signs Long-Term Supply Contract Worth 8.5 Trillion KRW with Samsung SDI
[Asia Economy Reporter Hwang Yoon-joo] Iljin Materials announced on the 24th that it has signed a long-term supply contract worth 8.5 trillion KRW with Samsung SDI for electrode foil used in secondary batteries. The contract period is from June 24, 2022, to December 31, 2030. This amount corresponds to 1237.67% of recent sales revenue.
The company stated, "We have contracted to supply 60% of the total annual electrode foil volume required by Samsung SDI (mandatory supply volume)." It also added, "Even after the volume is confirmed, the annual mandatory supply volume can be decreased within a 5% range or increased within a 20% range through mutual agreement."
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