Iljin Materials Invests 600 Billion KRW to Expand Production Base for Key Secondary Battery Materials

[Asia Economy Reporter Lim Hye-seon] Iljin Materials, an advanced materials business affiliate of Iljin Group, announced on the 17th that its Malaysian local subsidiary 'IMM Technology' will invest 600 billion KRW to expand the production base of the secondary battery core material 'Elecfoil'.

IMM Technology plans to invest a total of 600 billion KRW over three years until the end of 2024 in the Elecfoil production base located in the Samajaya Free Trade Zone in Kuching, Sarawak, Malaysia. Elecfoil is a thin film with a thickness of less than 10㎛ (micrometers, one-millionth of a meter) made by electrolyzing a copper sulfate solution, and it is a core material used in the anode current collector of large secondary batteries. With this investment, IMM Technology's Elecfoil production capacity will increase from the existing 40,000 tons per year to 90,000 tons per year.