From Materials to Spent Batteries... SK On and Hana Securities Join Hands to Build Secondary Battery Ecosystem

Discovering Promising Secondary Battery Companies and Investment Collaboration

SK On announced on the 25th that it has signed a Memorandum of Understanding (MOU) to establish the ‘Secondary Battery Ecosystem Investment Expansion Alliance’ with Hana Securities and Hana Alternative Investment Asset Management at the Hana Securities headquarters in Yeongdeungpo-gu, Seoul.

Key officials attended the signing ceremony held the previous day, including Kang Seongmuk, CEO of Hana Securities, Lee Hooseung, CEO of Hana Alternative Investment Asset Management, and Choi Youngchan, President of SK On’s Management Support Division. The three companies agreed to collaborate in various areas to build and expand the secondary battery ecosystem, including ▲mutual exchange of information related to the secondary battery industry, companies, and technologies ▲discovery and investment in promising secondary battery companies ▲promotion of the used battery recycling business.

SK On will provide information to expand investment in promising companies by verifying the technological capabilities and analyzing the business feasibility of excellent companies related to materials, parts, and equipment (hereinafter referred to as SoBuJang) within the secondary battery industry. Hana Securities and Hana Alternative Investment Asset Management will participate in SK On’s various investments and financing, and promote joint ventures (JVs) for discovering additional projects, investment, and financial arrangement.

Lee Huiseung, CEO of Hana Alternative Investment Asset Management (first from the left), Choi Youngchan, President of SK On's Management Support Division (center), and Kang Seongmuk, CEO of Hana Securities, signed a business agreement on the 24th afternoon at Hana Securities headquarters in Yeongdeungpo-gu, Seoul, to establish a secondary battery ecosystem. [Photo by SK On]

SK On expects that the synergy created by its battery technology capabilities and the professional investment experience of Hana Securities and Hana Alternative Investment Asset Management in future clean industries will play a significant role in establishing an investment environment for the secondary battery industry.

CEO Kang said, “We are now at a point where not only the industrial sector but also the financial sector must endure innovative challenges to the existing paradigm amid the massive changes of energy transition and decarbonization,” adding, “Hana Securities will build a partnership with SK On to explore new growth opportunities and expand its investment areas.” CEO Lee stated, “We will strive to create a battery ecosystem that is the nation’s future industry, a new growth engine, and can contribute to achieving carbon neutrality.”

President Choi said, “Through this MOU, we have laid the foundation for a virtuous cycle structure that discovers and invests in promising companies within the secondary battery industry,” and added, “Based on this cooperation, we will do our best to achieve mutual growth so that domestic SoBuJang companies can grow together.”