On December 31, SK Innovation announced through a public disclosure that it has revised the investment amount related to SK On's Seosan Plant 3 from the previously stated 1.7534 trillion won to 936.39 billion won.
This is not a reduction of the originally planned total investment amount, but rather a restatement based on the investment executed to date.
In addition, the company has extended the investment completion date by one year, from December 31, 2025, to December 31, 2026. This decision was made due to the electric vehicle chasm (a temporary stagnation in demand) and changes in the business environment.
SK On initially aimed to expand Seosan Plant 3 for mass production by 2026, but with the delay in expansion, full-scale operations are now expected to begin around 2027.
Seosan Plant 3 has a capacity of 14 GWh (gigawatt-hours), which is sufficient to produce batteries for 140,000 to 160,000 electric vehicles.
SK On is currently operating Plant 1 (1 GWh) and Plant 2 (6 GWh) in Seosan. Of these, 3 GWh of Plant 2's capacity will be converted to produce batteries for energy storage systems (ESS) in order to respond to changes in demand.
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