L&F, a Daegu-headquartered cathode materials producer, has not quit its efforts to build overseas factories, despite lingering skepticism about the battery industry amid the deceleration in global demand for electric vehicles, the company’s chief executive said.
L&F, a Korean cathode material company, said Monday it has signed a 13.19 trillion-won ($9.85 billion) deal to supply high-nickel cathodes to SK On, the battery unit of chip-to-construction conglomerate SK Group.
Yu Sung-hun, a former executive at Shinhan Financial Group, finds credibility as the biggest asset that he brings to L&F, a battery materials maker where he was scouted as the chief financial officer (CFO) in September.
Korea s antitrust regulator on Tuesday approved the launch of a joint venture between LS, the country s 16th-largest conglomerate, and battery material producer L&F.
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