JEOLLABUK-DO < invest Korea

According to Yonhap News,

SungEel HitTech, a waste battery recycling company, held a ceremony to celebrate the completion of its third plant construction in the Saemangeum National Industrial Complex 2nd district on June 4.

The ceremony was attended by about 300 people, including Jeonbuk's governor, Minister of Envrionment Ministry, Administrator of SDIA, and CEO of SungEel HitTech.

Jeonbuk's governor said, "For the growth of the eco-friendly mobility industry, recycling of battery in EV is important," adding that "we will provide every administrative support to ensure SungEel HiTech and Jeonbuk grow together."

SungEel HitTech plans to produce high-quality battery materials such as nickel, cobalt, and lithium at its 3rd plant, which was built to scale of 23,000 pyeong by investing KRW 130 billion.

The company is expected to hire 130 people.

When the production capacity of existing plants #1, #2, and new #3 under construction are combined, the company expects to provide battery materials for about 400,000 electric vehicles annually.

An official from the company said, "we expect to solidify our position in the secondary battery market with the mass production of battery materials at the new factory."

doo@yna.co.kr

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Source: Yonhap News (June 4, 2024)