HS Hyosung to Invest KRW 1.2 Trillion in Ulsan to Begin Mass Production of Silicon Anode Materials

[Financial News] HS Hyosung Energy Solution Korea will invest a total of KRW 1.2 trillion in the Ulsan-Mipo Industrial Park by 2030 to establish a mass-production system for silicon anode materials.
HS Hyosung Energy Solution Korea announced on the 14th that it had signed an investment memorandum of understanding (MOU) to build a silicon anode material production plant at Ulsan Metropolitan City Hall, with CEO Lee Ki-soo and Ulsan Metropolitan City Mayor Kim Sang-wook in attendance.
HS Hyosung Energy Solution Korea is a joint venture established by HS Hyosung Group and Umicore to enter the silicon anode material business, a key component of next-generation batteries. This is the first new business project pursued by HS Hyosung Group since its separation into independent affiliates.
The investment will proceed in three stages. Under the agreement, the company plans to invest KRW 300 billion and build MPK-1, a silicon anode material production plant with an annual capacity of 5,000 metric tons, by the first quarter of 2028. Silicon anode materials can deliver higher energy density than conventional graphite anode materials and improve fast-charging performance. They are considered a key next-generation battery material for extending electric vehicle driving ranges and reducing charging times.
HS Hyosung Energy Solution Korea plans to give priority to hiring residents of Ulsan Metropolitan City during the construction and operation of the plant. Ulsan Metropolitan City will provide administrative support, including assistance with various permits and approvals.
Lee said, "We will foster the next-generation battery materials industry as a national strategic industry and contribute to strengthening the global supply chain competitiveness of major sectors, including semiconductors, shipbuilding, and defense. As we have selected Ulsan, the birthplace of the Hyosung Group, as our first investment location, we will establish ourselves as a company that grows together with the region by reorganizing advanced production facilities and creating jobs." Mayor Kim said, "This agreement will serve as an important opportunity for Ulsan to strengthen its competitiveness in key next-generation battery materials and lead the global supply chain for the secondary battery industry." 
[email protected] Kim Mi-hee Reporter