SKC

• SKC-Polish
  authorities signed an investment agreement with high-ranking officials
  including the Polish PM expressing active support

• To
  invest over 900 billion won in the ‘E-Mobility Industrial Complex’ in Stalowa
  Wola, Poland to build a plan with an annual production capacity of 50,000 tons.
  

• Fast
  decision to expand capacity in response to rapidly increasing demand for
  batteries with a goal of securing the world's largest production capacity by
  2025

SKC (CEO Lee
Wan-jae) has decided to make Poland the copper foil production base in Europe,
where there are a host of major global secondary battery manufacturers and
start investing in earnest. Since May, SKC has been consulting with the Polish
government on investment conditions, among others, to build
a production facility for copper foil, a core material for
rechargeable batteries, in Europe.

On November 18th
(local time) at the Rzeszow University of Technology in Stalowa Wola City,
Poland, SKC and its copper foil manufacturing subsidiary SK nexilis signed an
investment agreement with the Polish authorities to build a copper foil factory
in the nearby E-Mobility Industrial Complex. SKC plans to build a copper foil
production facility with an annual capacity of 50,000 tons in the complex by
investing more than 900 billion won. The goal is to start construction in the
first half of 2022 and start commercial production as early as in 2024.

The event was
attended by key executives including SKC President Lee Wan-jae and SK nexilis
CEO Kim Young-tae. On the Polish side, Polish Prime Minister Mateusz
Morawiecki, Mayor Lucjusz Nadberezny of Stalowa Wola, and high-ranking
officials from the Polish Investment and Trade Agency attended the ceremony,
expressed gratitude for SKC's investment and pledged to actively support it.

The Stalowa Wola
E-Mobility Industrial Complex in Poland is a future industrial complex
designated by the Polish government through a special bill in August 2021. It
has excellent customer accessibility as it is just 5-8 hours away from the
factories of major global rechargeable battery manufacturers. In addition to
the benefits of simplified taxation and administrative procedures, SKC can also
promote industry-university cooperation with an engineering university nearby
while fully implementing the RE100 initiative with a large volume of
electricity readily available from renewable energy in the area.

Following the
start of construction of a 50,000-ton plant in Kota Kinabalu, Malaysia in July
of this year, SKC quickly started investing in Europe in earnest. SKC plans to
grow into the No. 1 copper foil company in Europe, the world's largest EV
market, by introducing production processes deploying innovative technologies
to the continent and enhancing local responsiveness to major customers. Most
notably, SKC is considering increasing its production capacity in Europe to a
total of 100,000 tons.

In addition, SKC
is pushing for an investment of 50,000 tons in the US; The goal is to increase its
production capacity to a total of 250,000 tons by 2025 by adding 52,000 tons in
Jeongeup, 50,000 tons in Malaysia, and 100,000 tons in Europe. SKC is planning
to secure a production scale commensurate with its highest technological
prowess worldwide and continue to solidify its position as No. 1 copper foil
manufacturer across the world.

An SKC official
said, "In order to respond to the increasing demand for copper foil, we
are pulling the commercial operation schedule of our domestic factories forward
while rapidly promoting overseas expansion," adding, “We will build
production facilities equipped with the world’s very best technologies by
actively investing in the production base for Europe with the largest number of
our customers. We will provide them with the best copper foil solutions as a
way to boost our customer value.”