Koryo Zinc attracts 527.2 billion won investment from Hyundai, cooperates in overall EV battery business = South Korea

On the 30th, Koryo Zinc, a South Korean company specializing in refining and non-ferrous metals, collaborated with Hyundai Motor Group to develop the value of secondary batteries, from securing core materials for electric vehicle (EV) batteries to reusing waste batteries.
We partnered on a chain-related business. In connection with this, the company announced that it has attracted an investment of 557.2 billion won (approximately 61,634.12 million yen) from HMG Global, an overseas subsidiary of the Hyundai Motor Group.
expressed. The two companies will work on securing a material supply network, supplying battery intermediate goods, and collaborating on next-generation businesses related to EV batteries. Let's start with the basis of the US Inflation Control Act (IRA).
We will jointly promote investment in mines and development projects in order to secure materials that meet the standards. They also decided to cooperate in building a nickel supply network.
This partnership is a partnership between a completed car manufacturer and a battery material manufacturer to develop EV batteries.
It is significant in that it builds a supply network that covers all processes. By the end of this year, Koryo Zinc will invest 506.3 billion won (approximately 56 billion yen) to build an all-in-one facility on its premises in Ulsan.
- Construction of a nickel smelter. The annual production capacity is 42,600 tons. Combined with the 22,300-ton annual production of KEMCO, a subsidiary that produces nickel sulfate, the company's
The annual production capacity will be approximately 650 million tons. If the construction of the plant proceeds as planned, the Koryo Zinc Group will have the world's second largest nickel sulfate production capacity this year, and the world's No. 1 nickel sulfate production capacity outside of China.
Become.