Acquisition of Belgian EMM for 200 Billion Won
Material with 10x Energy Density... Ulsan Reshoring
Cho Hyunsang: "Creating Value through Technology and AI Utilization"
HS Hyosung Group is making a full-fledged entry into the silicon anode material business, a next-generation core material for secondary batteries. Vice Chairman Cho Hyunsang's philosophy of "value management," which aims to maximize corporate value based on proprietary technology and intellectual assets, is now materializing into concrete global investments.
On November 3, HS Hyosung announced that it had agreed to acquire EMM, the battery anode material subsidiary of the Belgian global materials company Umicore, by investing approximately 120 million euros (around 200 billion won) as of October 31. The company also revealed plans to establish a joint venture with Umicore. This transaction will be finalized upon approval from regulatory authorities in each country.
Vice Chairman Cho Hyunsang of HS Hyosung (fourth from the left) and Bart Sap, CEO of Yumicoa (third from the left), are taking a commemorative photo on-site in Belgium. HS Hyosung
Umicore is an advanced materials company with a history spanning over 100 years, boasting world-class technological capabilities in fields such as batteries, catalysts, semiconductors, defense, and aerospace. The company holds numerous proprietary technologies related to rare earth elements and is also famous as the place where Madame Curie conducted her research on radium and uranium.
Silicon anode material is a key component applied to the anode of batteries. It is known to have an energy density up to more than 10 times higher than conventional graphite anode materials. By reducing charging time and improving driving range and efficiency, it is considered a core technology that determines the competitiveness of electric vehicles. Recently, as the cathode, electrolyte, and separator sectors of batteries have reached their technological limits, anode materials are emerging as the focal point for next-generation battery innovation.
HS Hyosung plans to secure large-scale silicon anode material production capacity with an investment plan totaling 1.5 trillion won over the next five years. The first investment site will be in Ulsan, which is both the origin and symbol of Hyosung. Although the Ulsan plant was the group's starting point 60 years ago, most production bases have since moved overseas. Through this reshoring investment, the company expects to create high-value-added jobs and restore the local industrial ecosystem.
An industry official stated, "HS Hyosung, through this future-oriented advanced material of silicon anode, will contribute to strengthening the self-sufficiency and competitiveness of the national core industry supply chain," adding, "This move can also align with the overall trend toward advanced technology in industries such as batteries, semiconductors, shipbuilding, and defense."
According to HS Hyosung, Vice Chairman Cho Hyunsang has always emphasized building a high-value-added portfolio through the acquisition of technology and intellectual assets, and holds a management philosophy that artificial intelligence (AI) should be actively utilized. Recently, he has shown interest in enterprise AI and physical AI sectors and is known to be networking with global companies that possess related intellectual assets.
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