Australia Inflation Surprise Fuels Rate Hike Expectations Ahead of RBA Meeting 
Woodside Energy Flags Lower 2026 Production Outlook Despite Strong Q4 Revenue Beat 
Asian Stock Markets Rise on AI Optimism Ahead of Fed Decision and U.S. Tech Earnings 
Elon Musk Reportedly Eyes June 2026 SpaceX IPO Timed With Planetary Alignment and Birthday 
Samsung Set to Begin HBM4 Production for Nvidia and AMD 
Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
SoftBank Shares Surge as It Eyes Up to $30 Billion New Investment in OpenAI 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
ByteDance Finalizes Majority U.S.-Owned TikTok Joint Venture to Avert American Ban 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Meta Faces Lawsuit Over Alleged Approval of AI Chatbots Allowing Sexual Interactions With Minors 
ASML’s EUV Lithography Machines Power Europe’s Most Valuable Tech Company 
Alibaba-Backed Moonshot AI Unveils Kimi K2.5 to Challenge China’s AI Rivals 
Hyundai Motor Group is investing KRW530 billion, or about $400 million, to purchase a 5% stake in Korea Zinc Company Ltd. This collaboration will span recycling, battery material supply, and several other joint ventures, aiming to strengthen EV battery infrastructure.
Through this acquisition deal, Hyundai Motor and Korea Zinc will cooperate in various industries such as recycling, battery material supply, and other projects. One of the businesses agreed on by the two firms is related to the supply of nickel starting in 2026.
Korea Joongang Daily reported that Korea Zinc will issue 1,045,430 new shares priced at KRW 504,333 per share. The five percent that Hyundai Motor will purchase may sound small, but this is a significant portion already, as suggested by the agreed value of the deal.
The companies expect to complete the acquisition process by Sept. 12. It was outlined in the contract that the partners will jointly invest in mines to procure key raw materials for electric vehicle battery production, such as nickel. They are also looking to co-develop technologies so they can recycle scrap batteries.
"As the EV market grows, securing key battery materials will be a challenge and an opportunity for both the battery industry and automakers," Choi Yoon Beom, Korea Zinc's chairman and co-CEO, said in a statement. "The partnership allows Korea Zinc to contribute to the growth of the battery industry as a partner ideally positioned for various forms of collaboration across the batteries' entire lifecycle."
Meanwhile, The Korea Economic Daily reported that Korea Zinc said on Wednesday, Aug. 30, that it decided to raise KRW527.2 billion amid its goal of expanding its battery materials unit. To do this, it opted to offer rights to HMG Global LLC, the investment arm of Hyundai Motor, Kia Corp., and Hyundai Mobis.
"The rights offering is for a strategic partnership with HMG Global and its affiliates," Korea Zinc stated in its recent financial regulatory filing in Korea.
Photo by: Alphacolor/Unsplash
