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[Alpha Biz=(Chicago) Reporter Kim Jisun] Korea Zinc has attracted hundreds of billions of won in investment from Hyundai Motor Group and has signed a secondary battery (battery) alliance between the material company and the finished car.
Korea Zinc (010130) announced that it has signed a business partnership with Hyundai Motor Group on the 30th that covers the value chain of secondary batteries from securing key battery materials to recycling waste batteries, and has attracted 527.2 billion won in investment from HMG Global LLC, an overseas subsidiary of Hyundai Motor Group.
The two companies decided to secure △ supply chain of core raw materials related to batteries for electric vehicles △ supply of intermediate materials for batteries △ Future business cooperation. First, we will promote a joint mine investment and development project to secure core materials that meet the US Inflation Reduction Act (IRA). It also agreed to cooperate in establishing a nickel supply chain, a key strategic material for electric vehicle batteries. We will review business opportunities such as recycling waste batteries and cooperate in expanding future projects such as joint development of necessary technologies.
The alliance is expected to help Korea Zinc secure stable sales outlets for its secondary battery material business at an early date.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
