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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SKC has withdrawn its previously announced plan to enter the next-generation cathode material business due to a prolonged EV demand slowdown and intensified global competition.
In its December 31 filing on future business and management plans, SKC stated that its mid-to-long-term growth strategy presented at the 2021 investor briefing has been revised. While the company will continue expanding its copper foil (anode material) business, plans for cathode material entry have been canceled.
SKC explained that the prolonged EV “chasm” has led to reduced investments and production across the battery industry, prompting a review of long-term profitability.
As a result, the company’s cumulative investment plan for 2021–2025 has been reduced from roughly 5 trillion won to 4.4 trillion won. SKC will continue focusing on global capacity expansion and technology competitiveness in copper foil while pursuing other growth areas such as semiconductor and eco-friendly materials.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
