Sebang and L&F Join Forces to Strengthen Secondary Battery Business

Cooperation in Securing Recycled Materials and Purchasing Lithium

Sebang and L&F announced on the 29th that they have signed a strategic business agreement (MOU) to strengthen their secondary battery business. On the 28th, the two companies held a signing ceremony at the Sebang Group headquarters located in Gangnam-gu, Seoul, attended by Choi Jong-il, CEO of Sebang, and Lee Byung-hee, CEO of L&F.

At the Sebang Group headquarters in Gangnam-gu, Seoul, Lee Byung-hee, Chief Operating Officer (COO) of L&F (left), and Choi Jong-il, CEO of Sebang, are signing a business agreement. (Provided by Sebang)

The agreement focuses on establishing a comprehensive logistics system for secondary battery-related materials including loading, storage, transportation, and import/export; optimizing the supply chain through domestic and international procurement of raw materials and scrap; cooperation in secondary battery technology and exchange of know-how; building a recycling business ecosystem; and jointly developing new business models.

L&F plans to actively utilize Sebang’s logistics capabilities and network to build a new business value chain. Sebang is establishing a competitive network at major ports and inland logistics hubs nationwide.

L&F will prioritize securing raw materials for the recycling business through Sebang. Sebang plans to provide L&F with waste batteries and scrap generated in various parts of the world by leveraging its own network. Additionally, Sebang will handle the logistics of industrial lithium carbonate, and L&F is preparing a business to convert it into battery-grade lithium hydroxide.

Beyond logistics, Sebang will consolidate the capabilities of its group affiliates such as Sebang Battery (lead-acid battery manufacturing), Sebang Lithium Battery (lithium battery module production), Sangshin Metal (waste battery recycling), Sebang Metal Trading (steel import/export), Sebang Industry (battery parts manufacturing), and Sebang Express (import/export forwarding) to establish innovative services covering everything from raw material procurement to manufacturing, logistics, and recycling.

Choi Jong-il, CEO of Sebang, emphasized, "This is an innovative partnership that can change the paradigm of the secondary battery industry beyond simple business cooperation," adding, "We will present a new business model leading the global secondary battery market."

Lee Byung-hee, CEO of L&F, said, "Through Sebang’s capabilities, we will be able to further increase the logistics efficiency of supply chains spread across the world," and added, "We will simultaneously secure a robust supply chain, expand logistics efficiency, and enhance price competitiveness."