Global Precursor Company ‘CNGR’ Delegation Visits Pohang City ... United to Strengthen Win-Win Cooperation

Vice Chairman Joo Jong-wi of CNGR Expresses Gratitude for City's Full Administrative Support

Mayor Lee Kang-deok, "Mutual Cooperation with CNGR to Achieve 'Jeonjiboguk'"

Joo Jong-won, Vice Chairman of CNGR, a leading global precursor company in China, and his delegation visited Pohang City on the 14th to meet with Mayor Lee Kang-deok and heads of related departments to discuss ways to promote mutual cooperation.

Joo Jong-won, Vice Chairman of CNGR, a global leading precursor company, visited Pohang City on the 14th and met with Mayor Lee Kang-deok to discuss ways to achieve mutual cooperation.

The visit was arranged to express gratitude for Pohang City's active administrative support for CNGR's nickel refining and precursor production project for secondary batteries being promoted in Yeongilman 4 General Industrial Complex, and to strengthen cooperation and address pending issues.

Vice Chairman Joo Jong-won said, “We appreciate Pohang City's full support for CNGR's Pohang project,” adding, “This project is very important for CNGR's globalization of its secondary battery business, and we are also considering additional investments.”

In addition, Vice Chairman Joo Jong-won requested Pohang City to expedite site development, provide additional power and water supply, shorten various permits and approvals, and assist with workforce recruitment to ensure the successful promotion of the project.

In response, Mayor Lee Kang-deok said, “Since Pohang has been designated as a specialized complex for secondary batteries, we will work with central government agencies to resolve issues such as water and power supply,” and added, “We will nurture the necessary workforce through cooperation between universities and institutions, and provide maximum support to ensure that site development and the shortening of various permits and approvals do not hinder project promotion.”

He continued, “Following Pohang’s contribution to the nation through the steel industry, I am confident that through the secondary battery and hydrogen fuel cell businesses, Pohang will once again lead Korea’s innovative growth in battery technology. I urge CNGR to vigorously join us in realizing national prosperity.”

CNGR is headquartered in Changsha City, Hunan Province, China, and as of 2022, it achieved annual sales of 5.5 trillion KRW, ranking first in the global precursor market with a 25% global market share. Its major clients include Tesla, Apple, POSCO, LG, Samsung, and EcoPro.

In November 2022, CNGR signed a memorandum of understanding with Pohang City for a 1 trillion KRW investment in Yeongilman 4 General Industrial Complex. It plans to establish a nickel refining corporation with POSCO Holdings to produce nickel sulfate and a precursor corporation with POSCO Future M to produce precursors.

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