POSCO Inter to Supply Copper Foil Raw Materials Worth 6 Trillion Won to Lotte Energy Materials

POSCO International will supply copper foil raw materials worth 6 trillion KRW to Lotte Energy Materials.

On the 1st, POSCO International signed a 'Memorandum of Understanding (MOU) for Expanding Copper Foil Raw Material Supply' with Lotte Energy Materials at the Lotte Signiel Hotel in Jamsil, Seoul. The signing ceremony was attended by Jeong Tak, Vice Chairman of POSCO International, Kim Byung-hwi, Head of the Eco-friendly Division, as well as Kim Kyo-hyun, Vice Chairman of Lotte Chemical, and Kim Yeon-seop, CEO of Lotte Energy Materials.

Under this agreement, POSCO International will supply raw materials for high-end copper foil production to Lotte Energy Materials. The supply volume is 600,000 tons over 10 years until 2033. The expected related sales are estimated at 6 trillion KRW. Copper foil is a thin copper sheet less than 10 μm thick (1 μm = one-millionth of a meter) that wraps the anode material of secondary batteries. It functions to collect or supply electrons generated by electrochemical reactions in the anode material.

A POSCO International official explained that the copper foil raw materials supplied this time are also significant from an ESG (Environmental, Social, and Governance) management perspective. By recycling all scrap collected through a global network as raw materials, it promotes resource circulation and reduces carbon emissions that may occur during the process.

POSCO International has formed a joint consultative body composed of executives and working-level staff from both companies to strengthen the partnership with Lotte Energy Materials. In the future, POSCO International plans to provide consulting to Lotte Energy Materials by utilizing its overseas network and sales expertise. They intend to cooperate in supplying raw materials, developing processes for using copper foil raw materials, and establishing bases for new overseas production sites in Malaysia, Spain, the United States, and other locations that Lotte Energy Materials is pursuing.

A POSCO International official said, "Our copper foil raw material business is just beginning," adding, "We plan to continuously invest in domestic and overseas copper foil raw material-related businesses and actively expand the value chain from raw material procurement to raw material processing."

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