(LEAD) SKC, POSCO partner up to develop next

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(ATTN: CHANGES photo)By Kim Seung-yeon

SEOUL, May 30 (Yonhap) -- SKC Co., an advanced materials maker under South Korea's SK Group, said Tuesday it is joining hands with steel giant POSCO Holdings Inc. to develop next-generation secondary battery components as part of efforts to boost competitiveness in the rapidly growing industry.

SKC and POSCO signed a comprehensive business agreement earlier in the day, under which they will work together to develop anode materials, one of the key components for electric vehicle (EV) batteries, with a focus on lithium metal anodes that come with an enhanced energy density, SKC said in a release.

Anodes determine the battery life span and charging speed. While graphite is the most widely used feedstock for commercial lithium-ion batteries, lithium metal is emerging as a new source for potential application in solid-state batteries, a next-generation cell that battery makers are working on to produce on scale.

SKC and POSCO will also collaborate on the sourcing of raw materials for battery components, they said. SKC's subsidiary, SK Nexilis Co., is the world's largest producer of copper foil used in EV batteries, and POSCO has its commodities trading unit, POSCO International Corp., under its wing.

SKC is expanding its battery materials portfolio, with the investment last year in a British developer of silicon anodes, among others.

POSCO is pushing for a pivot to green energy materials, including EV battery components. Since 2017, it has embarked on research and development for lithium metal anodes and plans to commercialize the product in 2026.

SKC Co. CEO Park Won-cheol (L) poses for a photo with Yoo Byung-ok, a vice president at POSCO Holdings Inc., after signing an initial agreement on the secondary battery materials partnership in Seoul on May 30, 2023, in this photo provided by SKC. (PHOTO NOT FOR SALE) (Yonhap)

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