EcoPro CEO Song Ho-jun said on the 26th at the regular shareholders meeting held at the Ochang headquarters in North Chungcheong Province that the company will not only firmly maintain its overwhelming lead in high-nickel technology, but also strengthen its capabilities in next-generation materials such as all-solid-state and sodium-ion batteries and accelerate their commercialization.
Song announced three core management goals: securing overwhelming technological superiority, optimizing the global value chain, and improving management efficiency. He also said the company aims to secure economic viability through recycling technology—the greatest strength of ternary batteries—and to pursue renewable energy as a future business.
EcoPro accordingly passed an amendment to its articles of incorporation at the shareholders meeting to add businesses such as renewable energy to its corporate purpose. A key strength of ternary batteries is that more than 90% of key minerals, including nickel, cobalt, and manganese, can be recovered through recycling.
EcoPro also plans this year to expand investment in a nickel smelter in Indonesia to optimize competitiveness across the value chain from minerals to cathode materials and to achieve price innovation for cathode materials produced in places such as Hungary and Pohang.
Song said, "Following last year's investment in the IMIP nickel smelter in Indonesia, this year we will lead the second-phase IGIP project to more precisely complete the value chain from mineral smelting to final products," adding, "We will maximize production efficiency at the Hungary plant completed last year to proactively respond to in-region regulations and establish ourselves as the clear No. 1 corporations in the European market."
With a slowdown in the secondary battery market expected, Song also expressed a commitment to management efficiency for sustained growth. The company plans to actively push management streamlining, including consolidating overlapping tasks among affiliated companies.
EcoPro approved as originally proposed the main agenda items at the shareholders meeting that day, including approval of the financial statements, partial amendments to the articles of incorporation, appointment of directors, appointment of outside directors to serve as Audit Committee Commissioners, establishment of rules on remuneration for registered directors, and revisions to the executive retirement pay regulations.