SEOUL -- SKC, a leading polyester film and chemical material manufacturer in South Korea, will make a pre-emptive investment to boost the production of thin copper foil for lithium-ion batteries at its new subsidiary, KCF Technologies (KCFT).
SKC, affiliated with the SK Group which is investing heavily in batteries for electric vehicles, Thursday that it earmarked 81.5 billion won ($68.5 million) to build a new KCFT plant capable of producing 10,000 tons of copper foil in the southern city of Jeongeup for commercial operation in early 2022.
As a result, KCFT's total capacity would rise to about 40,000 tons a year. The demand for ultra-thin copper foil has increased as electric vehicle makers want high-capacity and light-weight batteries. SKC has vowed to develop thinner products.
SKC has acquired KCFT from Kohlberg Kravis Roberts, a U.S-based private equity fund, as part of its campaign to diversify its business portfolio into mobility, semiconductors and eco-friendly businesses. Copper foil, a key material used for secondary batteries, was selected as a future growth engine.
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