SKC

● Exchanged signed MoU copies on the 30th··· in presence of CEO Woncheol Park of SKC, Vice President Byungok Yoo of POSCO Holdings, and other high-level executives.

● Agreed to collaborate in developing cathode materials for next-generation batteries such as lithium metal as well as manufacturing processes, and sourcing other key ingredients

SKC (CEO & President Woncheol Park) joined hands with POSCO Group in the cutting-edge EV battery materials sector. SKC is expanding its business presence across the entire spectrum of EV battery materials such as silicone-based cathode materials as the global leader of copper foil production for EV batteries. POSCO Group, completing a value chain ranging from raw materials for EV batteries to anode/cathode materials. Other next-generation materials are expected to create a powerful synergy by partnering with each other.

SKC and POSCO Holdings concluded an MoU for a far-reaching partnership in the next-generation EV battery materials sector at SKC Head Office in Jongro-gu, Seoul on the 30th. The MoU signing ceremony was attended by management leaders of both parties including CEO Woncheol Park, Head of Business Development Junghwan Shin of SKC, Vice President Byungok Yoo in charge of eco-friendly future materials, and EV Battery Materials Business Team Leader (Senior Executive Director) Kyungseop Lee of POSCO Holdings to name a few.

On signing the MoU, the two companies vowed to develop cathode materials for next-generation batteries such as lithium metal cathode and collaborate in developing cutting-edge material production processes in a bid to spearhead innovation in the future-oriented EV battery market. Lithium metal-based anode materials feature high capacity, 10 times higher energy density than conventional graphite cathodes, and it is highlighted as a next-generation cathode material applicable not only to lithium-ion battery but also solid-state batteries. 

They will also collaborate mutually in sourcing key ingredients for EV battery materials. By partnering with POSCO International, seasoned in trading minerals including copper which is the raw material for copper foil, SKC will be able to source raw materials more stably to meet increasing demands way forward. The two companies plan to roll out a joint steering organization staffed with working-level staff members in their respective relevant subsidiaries. 

SKC is the unchallenged global leader in the EV battery copper foil market thanks to SK nexilis. In particular, drawing upon its unmatched technological excellence, the company has a wide range of product offerings that can meet varying demands of different customers, including high-strength and high-elongation copper foil and ultra-thin foil that is just 4 ㎛-thick. SKC ventured into silicone cathodes business as well on a full scale, investing in the U.K. tech firm Nexeon last year. The partnership with POSCO Group will enable SKC to lay the groundwork for the lithium metal cathodes business.

POSCO Group has preemptively built up a value chain covering the entire spectrum of EV battery materials ranging from minerals such as lithium and nickel to anode/cathode materials and other next-generation materials. In particular, POSCO Group rolled out R&D initiatives on lithium metal anode materials in 2017 ahead of others, with a plan to commercially release them by 2026. Furthermore, POSCO Group is forging a series of partnership with EV and battery makers one after another and the business partnership with SKC will drastically beef up business competitiveness in the next-generation anode materials sector.

“Synergy between SKC’s technological excellence in materials and POSCO Group’s powerful infrastructure will enable the two companies to secure a strong leadership in the next-generation EV battery materials market,” said CEO Woncheol Park of SKC. “We will foster partnership actively to turn up the competitiveness of Korea’s EV battery industry by a notch.”

Vice President Byungok Yoo of POSCO Holdings commented, “We expect collaboration between POSCO Group and SKC commanding vantage points for the EV battery business covering anode/cathode materials to result in great synergy in the EV battery market.” [End]

Photo 1 caption: CEO Woncheol Park of SKC (left) and Vice President Byungok Yoo of POSCO Holdings in charge of eco-friendly future materials holding the signed copies of the MoU on their business partnership for next-generation EV batteries at SKC Head Office, in Jongro-gu, Seoul on the 30th.

Photo 2 caption: Management leaders of the signing parties including CEO Woncheol Park of SKC (the second from the left) and Vice President Byungok Yoo of POSCO Holdings in charge of eco-friendly future materials (the third) to name a few are holding the signed copies of the MoU on their business partnership for next-generation EV batteries at SKC Head Office, in Jongro-gu, Seoul on the 30th.