HS Hyosung Energy Solution Korea to Invest KRW 1.2 Trillion in Ulsan Silicon Anode Production Hub

Since the beginning of this year, a new round of reshuffling in the lithium battery industry chain has continued to deepen. In August this year, the bankruptcy reorganization cases of lithium battery company Soundon New Energy Technology Co., Ltd. (hereinafter referred to as Soundon New Energy) and Sichuan Mulun New Material Technology Co., Ltd. (hereinafter referred to as Mulun New Material) saw new progress. On August 14, the Xiangtan Intermediate People's Court ruled to terminate the reorganization procedure of Soundon New Energy and declared it bankrupt. With this, the reorganization of Soundon New Energy, which had lasted two years and two months, was declared a failure.

The Democratic Republic of the Congo's cobalt exports are gradually recovering, according to the country's mining report for the first half of 2026. The concentrated release of material should ease China's cobalt feedstock shortage and shift bargaining power toward buyers. With cobalt salt demand weak and smelter margins under pressure, additional arrivals will make it harder for sellers to hold firm, and price concessions will be needed to unlock transactions.

Korea’s ESS market moved closer to actual procurement expansion in August as policy support for renewable integration and grid stability became more concrete. Attention focused on the next ESS centralized contract market, distribution-grid projects, and stronger non-price criteria such as safety and supply capability. Actual demand growth will depend on final tender volumes, project execution and battery shipments.