RFsemi participates in 'Battery Day 2023'... Introduces LFP Business Strategy with Affiliate Jinpyeong

RF Semi announced on the 2nd that it will participate in 'Battery Day 2023,' held on the 18th at COEX in Samseong-dong, Gangnam-gu, Seoul, together with its affiliate Jinpyeng.

Battery Day is a conference that introduces the latest technology trends across the entire secondary battery ecosystem, from finished products such as battery cells and battery packs to materials, parts, and equipment (SoBuJang). Global companies and industry experts participate to review secondary battery technology trends and the market. This year's event will feature leading domestic battery finished product and material companies such as Samsung SDI, LG Energy Solution, and EcoPro.

RF Semi will welcome Jinpyeng Electronics, which owns lithium iron phosphate (LFP) battery production facilities, as its largest shareholder on the 30th. Together with Jinpyeng, the parent company of Jinpyeng Electronics, it plans to actively expand its LFP battery business. Currently, RF Semi holds Jinpyeng's global battery distribution rights excluding China, and plans to expand its business area to packaging through future facility construction.

Since Jinpyeng is focusing its core business investment on the LFP battery business, significant synergy effects with RF Semi are expected. Jinpyeng's affiliate, Shanxi Jinpyeng, also signed an NDA (Non-Disclosure Agreement) for battery business cooperation with LG Energy Solution at the Shanghai Imgang plant. On the 30th of last month, it announced the official resumption of LFP sales in China and plans to promote battery supply to global electric vehicle companies in the future.

An RF Semi official said, "Through the Battery Day event, we will seek directions to strengthen domestic and international battery businesses together with global companies," adding, "Based on our LFP battery technology and production capabilities, we will present and realize business strategies both domestically and internationally."

Meanwhile, the Ministry of Trade, Industry and Energy announced that it will promote a government research and development (R&D) project for the 'development of high-performance LFP cathode materials, electrolytes, and cell manufacturing technology.' A total of 23.3 billion KRW will be invested by 2026, aiming to develop LFP batteries with world-class performance.

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