Photograph) Park Jong-bae, head of the Jeonbuk headquarters of the Korea Industrial Complex Corporation, Kim Gwan-young, Governor of Jeonbuk Province, Lee Sang-ho, CEO of Korea Future Materials Co.,LTD, and Kang Im-jun, Mayor of Gunsan-si (from the left) take a commemorative photo after signing the 'Agreement on Investment in a Copper Foil Materials Plant' at the Jeonbuk Provincial Office on the 25th.
■ Subsidiary Korea Future Materials Co.,LTD signed investment agreement with Jeonbuk-do and Gunsan-si to build new plant.
■ Plans to mass produce world-first CuFlake this year and simplify copper foil manufacturing process.
■ Cooperating on new material business with affiliates such as LS Eco Energy and LS Materials
LS Cable & System is pushing ahead with the production of CuFlakeTM, the world's first new copper material for copper foil, which it developed independently.
LS Cable & System announced on the 25th that its subsidiary, Korea Future Materials Co.,LTD signed an agreement with Jeonbuk Province, Gunsan-si, and the Korea Industrial Complex Corporation on investment in a new plant.
The plant will be built with a total floor area of 7,935 m2 on a 16,576 m2 site in Gunsan National Industrial Complex in Jeonbuk Province. Construction is scheduled to begin in May and mass production will begin in December, with investments totaling approximately 36 billion won.
CuFlake uses flakes instead of copper wire as the raw material for copper foil, which dramatically reduces the number of processing steps. Processing costs can also be significantly reduced, as there is no need for cutting and washing to remove impurities.
Lee Sang-ho, CEO of Korea Future Materials Co.,LTD, said, “The new Gunsan plant will enable us to stably supply high-quality copper foil materials. We are working with affiliates such as LS Eco Energy and LS Materials to expand our business of supplying eco-friendly products such as rare earth permanent magnets and aluminum parts for EVs.“
“The success of companies that have invested in Jeonbuk is the success of the province,” said Governor Kim Kwan-young. “We will actively support Korea Future Materials Co.,LTD to succeed as a company that can represent Korea.”
The company said that its decision to invest in Gunsan was due to its proximity to major copper foil companies, as well as the investment environment and active support for companies in Jeonbuk and Gunsan-si, where secondary battery-related investments are active.
