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SungEel HiTech,a lithium ion battery recycling company, to invest KRW 130 bln in Saemangeum Industrial Complex

According to Yonhap News,

SungEel HiTech, a lithium ion battery recycling company, is set to make a large-scale investment worth KRW 130 billion in the Saemangeum Industrial Complex.

Jeollabuk-do and SungEel Hitech signed an investment agreement to build a secondary battery cathode material extraction plant at the Ramada Hotel in Gunsan on December 10.

The cathode material is a key material that determines battery performance.

According to the agreement, SungEel HiTech plans to build a factory on the site of 98,000 square meters in the Saemangeum Industrial Complex Zone 2 by 2023 by investing KRW 130 billion and hire 130 employees.

Jeollabuk-do forecast that this investment will greatly contribute to the establishment of an ecosystem for the battery industry in connection with the Saemangeum Future Car Cluster and vitalization of the local economy.

Source Text

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Source: Yonhap News (December 10, 2021)

** This article was translated from Korean.