[Report] South Korea Occupies Half of the World's Battery Cathode Materials Market... Now Leaping into Energy Materials

Jeongseok Chemical Located in Wanju Industrial Complex, Jeonbuk
Developed Lithium Sulfide Manufacturing Technology for All-Solid-State Batteries Last Year

On the 25th, we visited Jeongseok Chemical located in the Wanju Industrial Complex, Jeonbuk. The site, covering an area of 12,000 pyeong, had its paint factory running nonstop. The low-temperature reactor on the second floor of the factory was stirring raw materials loudly. When heated at around 150 degrees Celsius for 7 to 8 hours, the molecular weight increases, thickening the substance. This becomes a synthetic resin that can adhere paint to floors or walls.

Jeongseok Chemical is a company known for road paint. Kim Yong-hyun, CEO of Jeongseok Chemical, stated, “We occupy more than 50% of South Korea’s lane markings.”

On the 25th, a lithium sulfide factory is being built on one side of the Jeongseok Chemical site located in the Wanju Industrial Complex, Jeonbuk.

They produce not only road marking paints used for lanes and crosswalks but also special functional paints. A representative example is the Anti-Icing paint that melts snow on painted areas without the need for heating wires in winter. It detects black ice and helps prevent traffic accidents. In summer, they also have paints that reduce the heat island effect by lowering the temperature of roads heated by sunlight compared to the surroundings. Additionally, they manufacture urethane waterproofing and flooring materials, epoxy flooring materials, medium-solid paints for concrete and steel, and film coating paints.

Last year, they discovered a new business item. They developed lithium sulfide (Li₂S) manufacturing technology for all-solid-state batteries. Research began in 2019 and took a full three years. Jeongseok Chemical explained, “Looking at the electric vehicle market, lithium-ion batteries are mainly used now, but we often hear about explosion incidents,” adding, “We wondered what the next-generation battery that could replace lithium-ion batteries might be, and came up with all-solid-state batteries.” CEO Kim added, “On a broad scale, the basic chemical principles are the same as making paint.”

On one side of the factory site, heavy equipment was busy constructing a new lithium sulfide factory. Jeongseok Chemical is expanding with two units of 70 kg capacity here. Along with this, they plan to build four 100 kg capacity and two 500 kg capacity factories on a 10,000 pyeong site in Wanju Technovalley. The groundbreaking ceremony is scheduled for the 12th of next month. CEO Kim emphasized, “It might be too pioneering, but if we don’t take the lead before other companies, we won’t find a place when we follow later,” adding, “We are moving forward with adventurous spirit, confidence, and boldness.”

On the 25th, Kim Yong-hyun, CEO of Jeongseok Chemical, is explaining about the company at the headquarters office in Wanju, Jeonbuk. [Photo provided by the Korea Venture Business Association]

The company visit that day was part of the ‘Venture Summer Forum’ organized by the Venture Business Association, attended by more than 20 venture company CEOs and executives from across the country. One CEO who toured the factory asked about Jeongseok Chemical’s ‘listing plans.’ In response, CEO Kim said, “We will soon sign a contract with an IPO company,” and “In three years, we will have transformed into a listed company.”

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