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According to Yonhap News,
World’s top producer of rechargeable battery materials is set to build a large scale research facility in the city of Chenan, South Chungcheong Province.
The provincial authorities signed an investment deal on Jul 20 with Umicore, a Belgium-based multinational company specializing in materials technology.
Pumping USD 30 million into the R&D center, Umicore unleashed a plan to newly establish a research lab on a 19,296㎡ site, located near the Cheonan Foreign Investment Zone(FEZ), which appears to help them gain more traction on R&D work to meet soaring demand for greener cars.
The center to move into Cheonan city boasts its scale, the largest ever of all Asian offices. Umicore, a multinational materials technology company headquartered in Brussels, Belgium, is one of the world’s leading suppliers of rechargeable battery materials. They have over 11,100 employees working in 14 countries across the world and raised KRW 4.5 trillion in sales last year. They’ve extended the reach of Korean market running three local production plants in Cheonan a few years ago.
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Source: Yonhap News (Jul 20 , 2020)
** This article was translated from Korean.