Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = EcoProBM recently announced a significant long-term supply agreement with Samsung SDI for cathode materials, effective from January next year until December 2028. The contract is estimated to be worth approximately 44 trillion won.

This extensive supply contract comes at a crucial time for battery material companies facing challenges due to sluggish demand in the forward-looking industries. The agreement is anticipated to serve as a cornerstone not only for securing production volumes but also for ensuring profitability.

EcoPro has been actively supplying high-nickel cathode materials to Samsung SDI since 2011. In 2021, the two companies established a joint venture, EcoProEM, reflecting the deepening collaboration. The cumulative volume of materials supplied by EcoPro to Samsung SDI has reached an impressive 200,000 tons as of 2023.

By Eun-young Huh(eunyoung114@nspna.com) and Seung-chul Kim(sckim@nspna.com)

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