Hyosung Secures First ESS Order in Australia

According to business reports released on the 17th by LG Energy Solution, Samsung SDI, and SK On, the three companies significantly increased their research and development (R&D) spending last year. LG Energy Solution invested KRW 1.3275 trillion, Samsung SDI KRW 1.4209 trillion, and SK On KRW 312.2 billion, representing year-on-year increases of approximately 22%, 9.5%, and 12.7%, respectively. Combined R&D investment by the three companies reached KRW 3.0606 trillion, up from KRW 2.6626 trillion the previous year, surpassing the KRW 3 trillion mark for the first time.

On the 17th, the U.S. government officially confirmed that Tesla is the partner in a Lithium Iron Phosphate (LFP) battery supply agreement worth approximately KRW 6 trillion ($4.3 billion) signed by LG Energy Solution in July last year.

JEIO, a producer of carbon nanotubes (CNT), announced on the 17th that it will begin full-scale supply of thin-wall carbon nanotubes (TWCNT) to CATL. The company expects to supply at least 100 tons of TWCNT this year.