Battery Recycling Company 'Silverdolphin' Begins Construction of Factory with 15.5 Billion KRW Investment in Mungyeong

CEO Kim Jihyeok - Mayor Shin Hyunguk Business Agreement

Mungyeong City signed a Memorandum of Understanding (MOU) for the establishment of a Silver Dolphin and battery processing plant on the 10th at the City Hall's 2nd conference room.

About 10 people attended the MOU signing, including Shin Hyun-guk, Mayor of Mungyeong, Hwang Jae-yong, Chairman of Mungyeong City Council, Kim Ji-hyeok, CEO of Silver Dolphin, and representatives from partner companies.

Battery processing company Silver Dolphin's CEO Ji-hyeok Kim (first on the right) is taking a commemorative photo with Mungyeong Mayor Hyun-guk Shin (center in the photo) after signing a business agreement to invest 15.5 billion KRW to build a factory in Mungyeong.

Silver Dolphin is a company that extracts raw materials from used electric vehicle batteries and manufactures storage batteries. Through this investment agreement, they plan to invest 15.5 billion KRW to establish a new factory and employ about 30 people. Silver Dolphin also stated that they intend to expand their investment to 50 billion KRW in the future.

The company plans to establish a factory for the reuse and recycling of electric vehicle batteries, which has recently been a hot topic, and it is expected to have a positive impact on the local economy.

A Mungyeong City official said, “Silver Dolphin is a company that recycles lithium, cobalt, manganese, and other materials extracted from batteries that have been used for 5 to 10 years and have reached the end of their lifespan. They are considering establishing a factory in Nongam-myeon, Mungyeong City, and I understand that construction is planned to start around the end of this year and be completed around 2025.”

Mayor Shin Hyun-guk said, “I thank CEO Kim Ji-hyeok for expressing his intention to invest in Mungyeong City with technology that can lead future food industries. We will not spare support for new industries by inducing autonomous and creative private investment through Mungyeong City's business-friendly corporate support policies.”

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