Dong-A Ilbo. GS Caltex, South Korea’s second-largest energy company, and Japan-based JX Nippon and Oil Energy (formerly Nippon Oil) will set up a joint venture to produce anode materials for lithium-ion batteries.
Under the agreement, a plant will be built in the Korean city of Gumi, North Gyeongsang Province, by the end of this year with an annual production capacity of 2,000 tons of anode materials, or 10 percent of last year’s global demand.
Korea has been completely dependent on Japanese imports for anodes.
GS Caltex is a 50:50 joint venture between GS Holdings and Chevron.