The HS Hyosung–Umicore joint venture will carry out a phased expansion of silicon anode materials production in Ulsan. Total investment will amount to KRW 1.2 trillion, with annual capacity targeted at 20,000 tonnes by 2030.
The joint venture HS Hyosung Energy Solution Korea has signed an investment agreement to establish a production base for next-generation battery materials in the Mipo National Industrial Complex in Ulsan. Total investment will amount to KRW 1.2 trillion (approximately ¥140 billion) and will be deployed in phases through 2030.
The project will proceed in 3 phases. In Phase 1, KRW 300 billion will be invested to complete a plant with annual capacity of 5,000 tonnes by the first quarter of 2028. Phase 2 will add a facility of the same scale, bringing annual capacity to 10,000 tonnes by the third quarter of 2029. In the final Phase 3, an additional KRW 600 billion will be invested to secure annual capacity of 20,000 tonnes by the third quarter of 2030.
Annual production capacity will reach 20,000 tonnes upon completion of all phases, and Ulsan Metropolitan City has indicated that it will support job creation and the acceleration of administrative procedures. The HS Hyosung Group has expressed its intention to position Ulsan as a supply hub for next-generation battery materials through its joint venture with Umicore.
Against the market backdrop, silicon anode materials are considered superior to the graphite currently in use in terms of energy density and charging performance, and demand is expected to grow in line with the expansion of the EV market.