Ecopro marks 28th anniversary, founder says ternary battery opportunity will open wide
In short
Ecopro held a ceremony for its 28th anniversary at its Pohang Campus on 22 October. Founder Lee Dong-chae (이동채) said demand for batteries with higher energy density will keep growing and that the opportunity for ternary batteries will open wide. He urged staff to improve technology and quality and cut costs.
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Ecopro held a ceremony for its 28th anniversary at its Pohang Campus on 22 October, the company said. According to Yonhap, the gathering renewed the company's resolve to become a leader in the global battery materials market. [ 1 , 2 , 4 ]
Founder Lee Dong-chae said in his speech that demand for batteries with higher energy density will keep growing, not only in electric vehicles but also in robots, artificial intelligence (AI) and next-generation mobility. He added that the opportunity for ternary batteries will certainly open wide. [ 1 , 2 , 4 ]
Lee said a company that prepares for the future in a downturn is the true strong one. He told staff to develop unrivalled technology further, raise quality competitiveness and lower costs so as to prepare ahead for the future customers want. Asia Economy also quoted him as saying that walking first on a road nobody has taken has been Ecopro's history, and that the company's most valuable asset is people, not equipment, buildings or capital. [ 1 , 2 , 4 ]
Asia Economy explained that a ternary battery uses three metals in its cathode material: nickel, cobalt, and manganese or aluminium. It said Ecopro mainly produces ternary cathode material. [ 2 ]
Ecopro started in 1998 with one employee and 100 million won in capital. It localised chemical filters for semiconductor processes that had relied on imports and developed greenhouse gas reduction catalyst technology. It entered the secondary battery cathode material business in the early 2000s and supplied NCA (nickel, cobalt, aluminium) cathode material to Sony in 2013. [ 1 , 2 , 4 ]
Asia Economy and Seoul Economic Daily said Ecopro has invested about 3.3 trillion won since 2017 to build in Pohang a system linking precursor and cathode material production with recycling. Yonhap gave the same figure and called it a closed-loop ecosystem, without a start year. [ 1 , 2 , 4 ]
Ecopro said nine in 10 of its employees are from outside the Seoul capital region, and stressed that it hired local talent and is an example of balanced regional development. The last point was reported by Yonhap. [ 1 , 2 , 4 ]
Why it matters
The documents give no figures on sales or orders, so the event is a company statement of strategy at an anniversary. It shows how Ecopro describes its outlook for ternary battery materials and its stress on regional hiring.
Key facts
- Ecopro held its 28th anniversary ceremony at the Pohang Campus on 22 October, the company said. [ 1 , 2 , 4 ]
- Founder Lee Dong-chae said demand for batteries with higher energy density will keep growing across electric vehicles, robots, artificial intelligence (AI) and next-generation mobility. [ 1 , 2 , 4 ]
- Lee said the opportunity for ternary batteries will "certainly open wide". [ 1 , 2 , 4 ]
- Ecopro started in 1998 with one employee and 100 million won in capital. [ 1 , 2 , 4 ]
- Ecopro has invested about 3.3 trillion won in Pohang to build a closed-loop system covering precursor, cathode material and recycling. [ 1 , 2 , 4 ]
- Nine in 10 Ecopro employees are from outside the Seoul capital region, according to the company. [ 1 , 2 , 4 ]
Confirmed by several sources
- Ecopro held its 28th anniversary ceremony at the Pohang Campus on 22 October, and Lee Dong-chae gave a speech. [ 1 , 2 , 4 ]
- Lee told staff to develop unrivalled technology further, raise quality competitiveness and lower costs to prepare for what customers want. [ 1 , 2 , 4 ]
- Ecopro supplied NCA (nickel, cobalt, aluminium) cathode material to Sony in 2013. [ 1 , 2 , 4 ]
Still unclear
- When the 3.3 trillion won investment in Pohang began Asia Economy and Seoul Economic Daily say the spending runs from 2017 to now; Yonhap gives no start year.
- How the share of employees from outside the capital region is measured Yonhap says 9 in 10 are from regional areas, Asia Economy says about 90% are from outside the capital area, and Seoul Economic Daily says 9 in 10 are not from Seoul or the capital region. All rest on the company's own statement.