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Ulsan city signed an MOU with SMLab to build out its production capabilities
The city of Ulsan signed an investment MOU with SMLab on May 21 to scale up production capacity to supply rechargeable battery component. Under the investment pact, the city government provides administrative supports to speed up the construction process for the investor.
SMLab also helps create jobs in the community by hiring residents who live close to the place of work.
SMLab, which develops and manufactures a cathode (positive electrode) materials, essential to lithium-ion rechargeable battery production, rolled out an investment plan to build out its production capacity to catch up rising demand for the secondary batteries.
They’ll establish a new manufacturing plant worth KRW 40 billion for the first half of the year 2020 on a nearby site where the existing office is in operation.
The cathode materials are thought to be a new growth engine as it’s highly associated with battery capacity and lifespan.
SMLab was born as a school startup lab in UNIST and moved its head office into Ulsan Hightech Valley in September last year. They’re highly anticipated to further increase market presence in the battery market, making a great leap forward for being the industry specialist.
young@yna.co.kr
** This article was translated from Korean.
Date
2020.05.27
Views
611
According to Yonhap News,
The city of Ulsan signed an investment MOU with SMLab on May 21 to scale up production capacity to supply rechargeable battery component. Under the investment pact, the city government provides administrative supports to speed up the construction process for the investor.
SMLab also helps create jobs in the community by hiring residents who live close to the place of work.
SMLab, which develops and manufactures a cathode (positive electrode) materials, essential to lithium-ion rechargeable battery production, rolled out an investment plan to build out its production capacity to catch up rising demand for the secondary batteries.
They’ll establish a new manufacturing plant worth KRW 40 billion for the first half of the year 2020 on a nearby site where the existing office is in operation.
The cathode materials are thought to be a new growth engine as it’s highly associated with battery capacity and lifespan.
SMLab was born as a school startup lab in UNIST and moved its head office into Ulsan Hightech Valley in September last year. They’re highly anticipated to further increase market presence in the battery market, making a great leap forward for being the industry specialist.
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young@yna.co.kr
Source: Yonhap News (May 21 , 2020)
** This article was translated from Korean.