Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
: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.
