ULSAN < invest Korea

According to Yonhap News,

LS MnM Co., the materials unit of South Korea's LS Group, said Thursday it plans to build a facility in Ulsan to produce high-purity metal compounds for use in secondary batteries.

Under a memorandum of understanding signed with the metropolitan government of Ulsan, some 300 kilometers southeast of Seoul, LS MnM plans to invest 670 billion won (US$516 million) in establishing the battery material production facility in the Onsan National Industrial Complex.

LS MnM plans to prioritize the employment of Ulsan residents when hiring new personnel, contributing to job creation in the region. Construction is scheduled to commence in the first half of 2024, with completion expected in early 2026.

Produced materials from the facility will include components such as nickel sulfate, cobalt sulfate and manganese sulfate. The plant will have an annual production capacity of 22,000 tons, the company said.


odissy@yna.co.kr

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Source: Yonhap News (November 23, 2023)