Pohang Blue Valley National Industrial Complex Signs MOU for 100 Billion KRW Investment in Secondary Battery Recycling Industry

Pohang City-Gyeongbuk Province Sign 100 Billion KRW Investment MOU with Jinseong SH New Energy

Pohang City Attracts Record 7.4 Trillion KRW Investment This Year, Demonstrating Differentiated Competitiveness

Mayor Lee Kang-deok Expects Locali

Pohang City announced that ‘Jinseong SH New Energy’ has decided to build a secondary battery recycling factory in the Pohang Blue Valley National Industrial Complex.

Pohang City and Gyeongbuk Province, which signed an MOU for a 100 billion KRW investment in Jinsung SH New Energy and the secondary battery recycling industry at the Pohang Blue Valley National Industrial Complex.

On the 26th, Pohang City and Gyeongbuk Province signed an investment agreement with Jinseong SH New Energy, attended by Mayor Lee Kang-deok, City Council Chairman Baek In-gyu, Gyeongbuk Province Deputy Governor for Economy Lee Dal-hee, Provincial Council Vice Chairman Park Yong-seon, Jinseong SH New Energy CEO Kim Wook-han, and Li Yao, General Manager of Guangdong Jinseong New Energy in China.

According to this business agreement, Jinseong SH New Energy, a battery recycling company jointly invested by Guangdong Jinseong New Energy in China and SH Materials Industry located in Gyeongju, plans to invest a total of 100 billion KRW by 2025, aiming to start construction this year on a 66,147㎡ (20,000 pyeong) site in the Pohang Blue Valley National Industrial Complex. The new investment is expected to create approximately 250 new jobs.

The secondary battery recycling factory to be constructed will extract and produce key raw materials such as nickel, cobalt, and manganese from 4,000 tons of waste batteries annually. Based on this facility technology and experience, the company plans to expand investment to include cathode material production.

Guangdong Jinseong (??金晟) New Energy Co., Ltd. is a leading comprehensive recycling company of waste batteries (lithium-ion and lithium iron phosphate) and ranks second in the battery recycling sector in China. It owns production bases covering 1.56 million square meters in China, including Zhaoqing, Yichun, and Ganzhou, where core raw materials from waste batteries are crushed, extracted, processed, and reused.

The battery recycling business promoted by Jinseong SH New Energy is expected to lower import dependence on key battery materials and secure a stable supply chain by facilitating the extraction, supply, export, and sales of rare metals based on Pohang’s integrated secondary battery industry circulation system.

Pohang City has succeeded in attracting large-scale investments totaling 7.04 trillion KRW this year alone, which is expected to create approximately 3,000 new jobs.

Based on such large-scale local investments by anchor companies, the city is expanding the secondary battery industry ecosystem through designation of an advanced strategic industrial complex for secondary batteries, a comprehensive secondary battery management center, and a secondary battery resource circulation cluster, leading corporate attraction and the transition to a new local era, which are key tasks for national balanced development.

Mayor Lee Kang-deok said, “Jinseong SH New Energy’s decision to invest in Pohang proves the differentiated competitive advantage of the secondary battery industry ecosystem that has been steadily prepared so far. I hope that the construction of this factory will serve as a foundation for the localization of key raw materials for secondary batteries and the establishment of a global supply chain. We will do our best to provide administrative and policy support for this.”

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