Ecopro Lee Dong-chae "Must Undergo Radical Transformation to Survive"... Management Policy Announcement

Focus on Strengthening Cost and Technology Leadership

EcoPro announced a 'radical transformation' to overcome the electric vehicle chasm (temporary demand slowdown) and revealed its three major management policies for 2025.

According to EcoPro on the 5th, Lee Dong-chae, the founder of EcoPro, stated at the New Year's ceremony held at the headquarters in Ochang, Chungbuk on the 2nd, "We are currently facing a life-or-death crisis where failure to find a path means standing at a crossroads," emphasizing, "Unless we undergo a radical transformation across all management sectors, our survival cannot be guaranteed."

Lee Dong-chae, the founder of EcoPro, is delivering a New Year's address at the EcoPro headquarters in Ochang, Chungbuk on the 2nd. Photo by EcoPro

To this end, EcoPro selected three key initiatives for this year: ▲ the Indonesia cathode material integrated corporation project ▲ the merger of EcoPro Innovation and EcoPro CNG ▲ and strengthening R&D outsourcing.

EcoPro plans to establish an integrated production corporation in Indonesia, which is rich in mineral resources, covering refining, precursors, and cathode materials to secure price competitiveness. Accordingly, it decided to establish an integrated corporation with China's GEM within the first quarter. EcoPro's integrated corporation in Indonesia will procure major minerals such as nickel at significantly lower costs compared to competitors, produce cathode materials locally, and supply them to battery cell companies as well as automobile manufacturers.

Additionally, EcoPro plans to merge EcoPro CNG, which handles recycling, with EcoPro Innovation, which processes lithium, to prepare for the post-chasm era.

Following the policy of internalizing technologies that can lead the market through selection and concentration while sourcing general-purpose technologies externally, EcoPro will also strengthen R&D outsourcing. To this end, EcoPro is establishing a technology cooperation roadmap with domestic universities as well as domestic and international industry peers.

Furthermore, EcoPro views that a radical transformation of organizational culture is a prerequisite for the business structure overhaul and plans to establish systems to reflect employees' voices in management. It will also pursue measures to build a welfare system that supports employees' retirement.

Founder Lee said, "External conditions are severe and uncertainties remain, but I am confident that if employees unite wholeheartedly and undergo a radical transformation, we will become a light that brightens the world," adding, "I hope everyone takes strong steps into the new year with positive energy."