GWANGJU < invest Korea

According to Yonhap News,

The ceremony for construction completion of Sebang Lithium Battery's EV battery pack was held in Pyeongdong 2nd Industrial Complex in Gwangju on October 13.

The ceremony was attended by Gwangju's mayor, Gwangju city council's vice chairman, Chairman of Sebang Group, CEO of Sebang Lithium Battery, among others.

Sebang Lithium Battery is a subsidiary of Sebang Battery which is No.1 in market share of lead-acid battery in Korea, and has technologies for auto built-in camera secondary battery and EV lithium ion battery module manufacturing.

Construction was completed in June this year, 6 months from construction commencement, and test operation has been underway since September. The factory is to produce battery packs for 420,000 EVs annually from February next year.

With the factory going into operation, the local economy is expected to be revitalized, including 250 job creation.

The factory has the advanced automation facilities that safely and efficiently control all the processes and eco-friendly assembling facilities that do not produce environmental polluting materials.

Sebang Lithium Battery plans to use the Gwangju plant as a basis for exports to overseas markets.

The city made efforts to attract this investment since last year by setting up a dedicated team and pledging administrative support, tax cuts, and subsidiary support.

cbebop@yna.co.kr

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Source:Yonhap News (October 13, 2021)