Secondary Battery Company 'Saebitchem' to Invest 50 Billion KRW in Sangju for Carbonate Lithium Plant Construction

Gyeongbuk Province and Sangju City have expanded the secondary battery material value chain to Sangju by attracting investment from Saevitchem, a total solution company for secondary battery recycling, and have begun to cluster related industries.

On the 18th, Gyeongbuk Province and Sangju City signed a Memorandum of Understanding (MOU) at Sangju City Hall for the construction of a lithium carbonate production plant for secondary batteries, attended by Lee Dal-hee, Vice Governor for Economy of Gyeongbuk Province, Kang Young-seok, Mayor of Sangju, and Park Min-gyu, CEO of Saevitchem.

Mayor Kang Young-seok of Sangju City (first from the left), Park Min-gyu, CEO of Saevitchem (center), and Lee Dal-hee, Deputy Governor for Economy of Gyeongbuk Province, are posing for a commemorative photo after signing a business agreement.

Through this investment agreement, Saevitchem plans to invest approximately 50 billion KRW in the Sangju General Industrial Complex by 2026 to build a plant producing lithium carbonate for secondary batteries and create 100 new jobs.

Founded in 1993, Saevitchem started with wastewater treatment chemicals and recycling of liquid waste from the electronics industry, and since 2017, has been actively engaged in the secondary battery recycling business.

Listed on KOSDAQ in August 2022, Saevitchem is a key company providing all solutions in the recycling sector, including urban mining that environmentally separates and recycles core resources of cathode materials for secondary batteries in a virtuous cycle.

Following its investment in precursor composite solutions in Gimcheon this January, Saevitchem plans to build a lithium carbonate production plant in Sangju, a material for electric vehicles (EV) and energy storage systems (ESS). Saevitchem’s lithium carbonate is noted for its high purity and particle size.

Gyeongbuk Province plans to establish a closed-loop resource circulation system from secondary battery material production to core resource recycling, centered on leading secondary battery material companies such as EcoPro, POSCO Future M, and SK Materials Group Potin within the region.

Park Min-gyu, CEO of Saevitchem, said, “We are honored to become a part of Sangju’s strategically promoted secondary battery industry development strategy,” adding, “With the investment in the Sangju General Industrial Complex, we will leap forward as a company with higher quality and production capacity.”

Lee Dal-hee, Vice Governor for Economy of Gyeongbuk Province, stated, “This investment is significant as it shows the expansion of the secondary battery industry, which Gyeongbuk Province is focusing on attracting,” and added, “We deeply thank CEO Park Min-gyu for deciding on a major investment in Sangju following Gimcheon, and we will actively work to foster the inland secondary battery recycling material industry connecting Sangju, Gimcheon, and Gumi.”

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