LS-L&F Battery Solution Merger Approved... Incorporated as LS Subsidiary

Approval of Merger by Competition Authorities of Korea, China, Poland, and Vietnam
Full-Scale Business Launch

LS Group's new corporation LS-L&F Battery Solution (hereinafter LLBS), established to enter the secondary battery materials sector, has received approval from domestic and international government authorities. LLBS will be incorporated as a subsidiary of LS Corporation.

On the 24th, LLBS announced that it received corporate establishment approval following the judgment by competition authorities in Korea, China, Poland, Vietnam, and others that "the establishment of the new company by both parties does not restrict competition in the global precursor market and related upstream and downstream markets."

Gu Ja-eun, Chairman of LS Group, presenting the group's vision for the secondary battery business at the MOU signing ceremony for the construction of the 'Secondary Battery Material Manufacturing Facility' held in early August at the Gunsan Saemangeum Convention Center in Jeonbuk.

LS is advancing the design of factories and facilities to produce precursors, which are cathode materials for secondary batteries, in the Saemangeum Industrial Complex Section 5, as well as recruiting specialized personnel, enabling it to strengthen its original plan for "initial mass production in early 2026."

Since Chairman Koo Ja-eun's inauguration, LS has announced bold plans to enter the battery, electric vehicle, and semiconductor (battery·electric vehicle·semiconductor) businesses. Accordingly, in June this year, LS agreed to establish the joint venture LLBS with L&F, a high-nickel cathode material specialist company, to pursue the precursor business, a core technology material of cathode materials.

LLBS will begin construction of a precursor factory for secondary battery materials in Saemangeum within this year. After starting mass production in 2026, it aims to continuously increase production to reach 120,000 tons by 2029. The total project scale exceeds 1 trillion KRW, and its subsidiary LS MnM is also considering additional investments in the future.

LS Group plans to make a full-scale entry into the secondary battery industry ecosystem by establishing an industrial value chain from "nickel sulfate → precursor → cathode material" through LS MnM, LLBS, and others.

An LS official stated, “Through an alliance between purely domestic companies, we hope to respond to the IRA (U.S. Inflation Reduction Act) and CRMA (EU Critical Raw Materials Act), and contribute to strengthening the competitiveness of K-battery in the cathode material sector, which is a core material of secondary batteries, and its precursor field.”

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