330 Billion KRW Investment in Yeongilman Industrial Complex
Securing New Growth Engine for Local Economy
On the 5th, Pohang City signed a Memorandum of Understanding (MOU) with Blocknine regarding investment in the secondary battery parts business at the City Hall External Cooperation Office.
Pohang City signed a memorandum of understanding with Block Nine for investment in the secondary battery parts business (from left: Lee Jae-jin, Vice Chairman of the City Council; Son Young-hwan, CEO of Block Nine; Jang Sang-gil, Deputy Mayor). Photo by Pohang City
The event was attended by about 20 people, including Jang Sang-gil, Deputy Mayor of Pohang City, Lee Jae-jin, Vice Chairman of the Pohang City Council, and Son Young-hwan, CEO of Blocknine, along with other company officials.
Blocknine plans to invest 33 billion KRW in a 9,917㎡ (approximately 3,000 pyeong) site within the Pohang Yeongilman 4 General Industrial Complex to establish mesh screen grading automatic winding equipment and refractory reaction vessel manufacturing production facilities. This investment is expected to create more than 30 new jobs.
Since its establishment in 2019, Blocknine has been engaged in automatic winding technology, robot automation, and the secondary battery materials, parts, and equipment (SoBuJang) business.
In addition, in September 2023, Blocknine acquired low-temperature melting dry battery recycling technology from the Korea Institute of Geoscience and Mineral Resources and is expanding its battery recycling business based in Pohang, preparing for a new leap forward. Recently, in November, the company established a technology research center in Pohang to conduct research and development related to secondary batteries.
Once the factory establishment in the Yeongilman 4 General Industrial Complex is completed, Blocknine plans to relocate its Pohang Technology Research Center to the Yeongilman Industrial Complex to further focus on secondary battery-related research and development and local talent cultivation.
In particular, by conducting overseas technology introduction and research cooperation as a Korea-Norway consortium, Blocknine is expected to strengthen global secondary battery technology competitiveness and contribute to achieving carbon neutrality goals.
Blocknine was selected as one of the 1,000 National Representative Innovative Companies in 2022 and has been continuously growing as a secondary battery SoBuJang company, receiving recognition such as the Minister of SMEs and Startups Commendation for its contribution to cooperation between large and small-medium enterprises in the materials, parts, and equipment sector.
Deputy Mayor Jang Sang-gil said, “Blocknine’s investment this time will secure a new growth engine for the Pohang regional economy and serve as an opportunity to foster future industries,” adding, “Pohang City will spare no effort to fully support Blocknine’s successful business expansion.”
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