‘Isu Specialty Chemical’ Invests 300 Billion KRW in Gumi to Build ‘Dream Battery’ Factory

Gyeongbuk Province and Gumi City signed a Memorandum of Understanding (MOU) on the 15th at the Gumi City Hall main conference room to establish a new production plant in the field of solid-state batteries with Isu Specialty Chemical.

The signing ceremony was attended by Lee Cheol-woo, Governor of Gyeongbuk Province, Kim Jang-ho, Mayor of Gumi, Kim Sang-beom, Chairman of Isu Group, and Ryu Seung-ho, CEO of Isu Specialty Chemical.

(From left) Koo Ja-geun, member of the People Power Party, Ryu Seung-ho, CEO of Isu Specialty Chemical, Kim Sang-beom, chairman of Isu Group, Lee Cheol-woo, governor of Gyeongbuk, Kim Jang-ho, mayor of Gumi, and Jang Se-gu, vice chairman of Gumi City Council, are posing for a commemorative photo after signing a business agreement.

Isu Specialty Chemical is a precision chemical company spun off from Isu Chemical, an affiliate of Isu Group, and is recognized as having the highest level of technology in the domestic solid-state battery market, often called the "battery of dreams."

In particular, lithium sulfide (Li2S) is a key raw material that constitutes the solid electrolyte of solid-state batteries. Its manufacturing process is very complicated, making mass production difficult, and only a handful of companies possess the technology.

Isu Specialty Chemical will build a new factory within the Gumi Industrial Complex to produce lithium sulfide, a core raw material for solid-state batteries.

With this agreement, the investment site will be secured promptly, and from 2025, 100 new jobs and an investment of 300 billion KRW will be made.

Gumi City expects that the new entry of a company recognized for its technology in the solid-state battery market will revitalize the local economy and further solidify its status as a hub of advanced industries.

In Gyeongbuk Province, centered around Pohang, Gumi, and Sangju, large-scale investments are being made continuously in materials such as cathodes by Ecopro, POSCO Future M, and LG HY BCM; anodes by POSCO Future M and SK Materials; separators by Toray BSF; and equipment, parts, and recycling by PNT, Abaco, Sebitchem, and Energy Materials.

This investment by Isu Specialty Chemical is expected to serve as a foundation for creating a core ecosystem for secondary battery materials centered in Gyeongbuk Province.

Lee Cheol-woo, Governor of Gyeongbuk Province, said, “This new investment is expected to contribute to establishing the growth foundation for secondary batteries in South Korea,” adding, “Through the war against ultra-low birth rates and the creation of a private investment activation fund, we will achieve a new local miracle centered on Gyeongbuk.”