Trump Tariffs Show Minimal Economic Impact but Boost Federal Revenue, Study Finds 
Air Canada Express Crash at LaGuardia: Controller Distracted by Prior Emergency 
U.S. Oil Prices Slide as Middle East Ceasefire Talks Spark Market Optimism 
Rio Tinto's Resolution Copper Mine: U.S. Smelting Challenges and Global Operations Update 
UK Consumer Confidence Weakens Amid Middle East Conflict and Rising Living Costs 
Sonova Shares Slip as Hearing Aid Giant Lowers Growth Outlook and Plans Sennheiser Exit 
Federal Reserve Balance Sheet Reduction: Brookings Research Outlines Possible Path Forward 
Iran-Israel Missile Strikes Continue Amid Mixed Signals on U.S.-Iran Diplomacy 
Unilever and Magnum Face Defamation Lawsuit Over Ben & Jerry's Board Chair Dismissal 
9 Tips for Avoiding Tax Season Cyber Scams 
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership 
SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion 
Brown-Forman and Pernod Ricard in Merger Talks to Create World's Largest Spirits Giant 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
CK Hutchison's Panama Ports Dispute Escalates as Arbitration Claims Surpass $2 Billion 
Gold Prices Surge on U.S.-Iran Ceasefire Reports 
Explosion and Fire Erupt at Valero Oil Refinery in Port Arthur, Texas 
:LG Chem has a goal of strengthening and boosting its battery materials value chain so it is investing in Jiujiang DeFu Technology, a Chinese battery copper foil company. The material that Jiujiang manufactures is a key part used in making rechargeable batteries.
LG Chem’s plan for the huge investment
As per The Korea Times, LG Chem, an affiliate of LG Group, revealed its plans of ₩40 billion investment in the said copper foil maker that is one of China’s best in the field. Since there is a growing market in the battery-making business, the demand for battery copper foil has also soared so the South Korean company wants to take advantage of this and allow itself to further grow in this sector as well.
"By cooperating with global companies, we plan to strengthen our value chain, as well as our competitiveness and capabilities to lead the battery materials market," LG Chem’s senior vice president, Nam Chul, said.
Based on the information coming from the Hana Financial Investment, the demand for copper foil supply for rechargeable batteries is estimated to hit 260,000 tons for this year alone and by 2025, it would be 620,000 tons with an average annual growth rate of 25%.
Jiujiang DeFu’s background
The copper company that LG Chem is investing in is the third-largest copper foil maker in China. It has two production facilities located in Gansu Sheng and Jiangxi regions. In these plants, Jiujiang DeFu produces copper foils for electric vehicles and prints circuit boards that are used in electric devices like the smartphone, The Korea Herald reported.
“DeFu’s current annual production capacity stands at 49,000 metric tons, which will increase to 78,000 tons by next year,” an official of LG Chem stated. “Its first-quarter sales logged 113 billion won, which more than quadrupled compared to a year prior.”
Jiujiang DeFu is said to have reached ₩113 billion in sales just for the 2021 Q1. This is said to show a four-fold growth compared to last year in the same period. Meanwhile, as per Yonhap News Agency, LG Chem signed a memorandum of understanding (MOU) with Jiujiang DeFu and this involved a long-term partnership in the copper foil venture.
