Chairman Shin Dong-bin Expands Anode Foil Investment... "Targeting European Electric Vehicle Battery Market"

Hungarian Tatarbanya Secondary Battery Cathode Foil Factory to Receive Additional 110 Billion KRW Investment
Global Promotion for Busan World Expo... VCM Busan to be Held in Second Half of the Year

Lotte Chairman Shin Dong-bin (left) is meeting with Lionel Sku Rebe, Chairman of REWE, and after requesting support for the 2030 Busan World Expo bid, they are taking a commemorative photo.

Shin Dong-bin, Chairman of Lotte, has decided to invest an additional 110 billion KRW in the cathode foil sector to secure Lotte's leading position in the European electric vehicle battery market.

On the 22nd, Lotte Holdings announced that Chairman Shin made this decision during his visit to the 'Lotte Cluster' established in the industrial complex of T?r?kszentmikl?s, Hungary, where he inspected the first prototype at the Lotte Aluminum plant, which is set to begin full-scale production next month. The plan is to double the production capacity of cathode foil through this additional investment.

The Lotte Aluminum plant in Hungary is the only dedicated cathode foil factory in Europe, capable of producing 18,000 tons annually for secondary batteries. Earlier this year, Chairman Shin considered a third phase of investment exceeding the amounts of the first and second phases on the additional land recently acquired.

The Lotte Cluster includes not only Lotte Chemical and Lotte Aluminum plants but also the anode foil production plant of Solus Advanced Materials, in which Lotte Precision Chemical and Lotte Aluminum have invested 300 billion KRW. Lotte Construction is developing the largest logistics center in Hungary by single warehouse standards through joint investment with a domestic logistics specialist.

Meanwhile, on the 21st, Chairman Shin promoted the bid for the 2030 Busan World Expo to global consumer goods executives and forum participants at the Lotte booth during the CGF (The Consumer Goods Forum) Global Summit held in Dublin, Ireland. He also reinforced support for the 2030 Busan World Expo during business meetings with CEOs of global groups such as PepsiCo, P&G, Walmart, and Rewe.

CGF is a global consortium of the consumer goods industry established in 1953 with the purpose of providing a platform for discussion and knowledge sharing to improve the lives of people worldwide. It includes over 400 consumer goods manufacturers and distributors from more than 70 countries. Representative members of CGF include PepsiCo, Amazon, Walmart, Carrefour, Aeon, Coca-Cola, Nestl?, and Danone. Lotte has been a member since 2012.

Chairman Shin will hold the VCM (formerly the Presidents' Meeting) in Busan for the first time in the group’s history in the second half of this year. Since the VCM gathers about 100 representatives from major Lotte affiliates and holding company executives to share the group’s future direction, it is expected that practical and comprehensive support strategies from Lotte affiliates for the 2030 Busan World Expo bid will also be discussed.