Chairman Choi "Zambia Copper Mine... New Opportunity for SK Group"
President Hichilema "Let's Continue Discussions for Cooperation with SK"
Chairman Chey Tae-won of SK Group (left) is meeting with Hakainde Hichilema, President of Zambia, in New York, USA, on the 20th (local time) to discuss establishing a public-private partnership model related to key raw materials in the battery sector.
[Asia Economy Reporter Oh Hyung-gil] SK Group Chairman Chey Tae-won, who is on a business trip to the United States, met with the President of Zambia to strengthen the battery raw material supply chain.
On the 20th (local time), Chairman Chey met with Hakainde Hichilema, President of Zambia, in New York, USA, to discuss the establishment of a public-private cooperation model related to key raw materials in the battery sector, SK Group announced on the 23rd.
Considering that world leaders gather in New York during the 77th United Nations General Assembly held in New York, Chairman Chey visited New York ahead of his visit to Washington D.C. and secured a meeting with President Hichilema. It is reported that both showed strong willingness by holding the meeting early in the morning despite their tight schedules.
Chairman Chey introduced, "SK Group has SK Nexilis, the world's number one copper foil manufacturer, as an affiliate," and mentioned, "Zambia's copper mines, which supply the raw materials for copper foil, a core material in electric vehicle battery manufacturing, present an interesting opportunity for SK."
Copper foil is a thin film made of copper using advanced technology and is one of the key materials that make up batteries.
Chairman Chey added, "In addition to cooperation in the electric vehicle battery sector, SK can play a role in helping Zambia's energy transition by utilizing green energy such as solar and hydro power," emphasizing, "Korea, as a manufacturing powerhouse, is a good partner to enhance Zambia's manufacturing capabilities."
President Hichilema responded, "I agree with Chairman Chey's proposal," and expressed hope to continue concrete discussions for business cooperation between SK and Zambia.
If cooperation between SK Group and Zambia is materialized through this meeting, SK Group is expected to secure a stable supply of raw materials for electric vehicle batteries, one of its core growth engines, despite uncertainties caused by global supply chain issues.
Zambia is also expected to create a new public-private cooperation model as it expands 'green business' utilizing its abundant natural resources and environment.
Meanwhile, during the meeting with President Hichilema, Chairman Chey introduced the strengths of the '2030 Busan World Expo' that Korea is seeking to host and actively requested support.
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