<Translated with Google Translate.>
Secondary battery cell manufacturing plant opens in Gwangju

- Magnatec begins construction of a 20 billion won investment factory in Energy Valley Industrial Complex
- Pilot production of lithium iron phosphate pouch cells from the end of August


A secondary battery cell manufacturing plant will be built in the Gwangju Energy Valley Industrial Complex.

The Gwangju Free Economic Zone Authority announced on the 28th that the groundbreaking ceremony for Magnatec Co., Ltd.'s Gwangju Plant 1, which produces secondary battery cells, a key component of electric vehicles, was held at the Energy Valley Industrial Complex in Nam-gu.

The groundbreaking ceremony was attended by about 200 company officials, including Gwangju City Executive Mayor Go Gwang-wan, Gwangju Free Economic Zone Authority Director Seon Seok-ki, and Lyric Robot (China) CEO Tan Guangshao.

Magnatec Co., Ltd. is a promising company focusing on technology development and production of anode materials for secondary batteries and all-solid-state batteries, with which it signed an investment agreement with Gwangju City in August of last year.

Gwangju Factory 1 plans to build and conduct trial production of a lithium iron phosphate (LFP) pouch cell pilot line that improves battery safety and lowers price by improving the shortcomings of lithium-ion batteries.
※ Lithium iron phosphate (LFP) battery: A secondary battery that achieves high stability and low price by applying iron phosphate to the anode.

When Gwangju Factory 1 is completed at the end of August, it is expected to serve as an opportunity to create an industrial ecosystem for secondary batteries produced and used by Gwangju companies.

Executive Mayor Go Gwang-wan said, “We will attract more promising secondary battery companies in the future to advance Gwangju City into a leading city that leads Korea’s representative next-generation battery industry.”

The Gwangju Free Economic Zone Authority is focusing its efforts on attracting investment from promising companies related to secondary batteries, hydrogen fuel cells, and mobile energy storage systems (ESS). We will also continue to support these companies so that they can operate stably in Gwangju. <End>

(Gwangju Free Economic Zone Authority, +82-62-613-6071)