HS Hyosung Energy Solution Korea said on the 14th it will sign an investment agreement with Ulsan City to build a new plant to produce silicon anode material. HS Hyosung Energy Solution Korea is a joint venture established by HS Hyosung Group with Umicore to make a full-fledged entry into the silicon anode material business, a core material for next-generation batteries.
HS Hyosung Energy Solution Korea plans to prioritize hiring Ulsan residents during the construction and operation of the new plant, contributing to local job creation and revitalizing the regional economy.
Ulsan City plans to work closely with corporations to ensure the investment proceeds without a hitch and takes root stably in the region, and to provide active administrative support, including various permits and approvals.
HS Hyosung Energy Solution Korea plans to invest 1.2 trillion won in the Ulsan–Mipo National Industrial Complex to establish a mass-production system for silicon anode material by 2030. The investment will proceed in three total phases. Under the investment agreement with Ulsan City, the company will first inject 300 billion won to build MPK-1, a silicon anode material plant with an annual capacity of 5,000 tons, by the first quarter of 2028.
Lee Ki-su, CEO of HS Hyosung Energy Solution Korea, said, "Through this investment, we plan to foster the next-generation battery material industry as a national strategic industry and help strengthen the global supply chain competitiveness of key sectors such as semiconductors, shipbuilding, and defense," adding, "In particular, as we have selected Ulsan, the birthplace of Hyosung, as the first investment site, we will establish ourselves as corporations that grow together with the region by reorganizing advanced production bases and creating jobs."
Kim Sang-wook, Ulsan mayor, said, "This agreement will further strengthen Ulsan's competitiveness in core materials for next-generation batteries and serve as an important opportunity to lead the global supply chain of the secondary battery industry," adding, "We will spare no administrative support to foster Ulsan as the hub of the future secondary battery material industry and to ensure it leads to quality jobs in the region and shared growth of related industries."