Under an agreement signed on Friday with city and provincial government officials, Posco Chemical will invest 250 billion won ($213 million) to build production facilities for synthetic graphite cathode materials for lithium-ion batteries at a state-designated industrial complex in Pohang. Construction will begin next year.
Posco Chemical CEO Min Kyung-jun has vowed to step up the localization of synthetic graphite cathode materials, which have a stable crystal structure to enhance the performance of batteries, compared to natural graphite cathode materials.
The steel group has invested heavily in lithium-ion battery materials. In June, Posco Chemical set up a special research center in Pohang to develop high-capacity anode and cathode products, new technology for battery materials and technologies for key materials for next-generation batteries. The cathode is an electrode from which a conventional current leaves a polarized electrical device, while the current enters into a polarized electrical device through an anode.
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