JRX EnerTech Solutions, a specialized battery foundry company, is accelerating its growth by targeting high-mix, low-volume battery markets such as energy storage systems (ESS), robotics and drones. Revenue surged over fourfold from 4.9 billion won in 2024 — the first year of plant operation — to 20.1 billion won last year. The company targets 32 billion won this year and aims for over 100 billion won next year.

JRX EnerTech Solutions focused on market segments with granular product specifications and diverse demands — areas difficult for major battery manufacturers to address via large-scale dedicated production lines. When battery fabless companies focus on product development, JRX EnerTech Solutions handles mass production, including electrode manufacturing and cell assembly.

The number of corporate clients seeking foundry services is growing rapidly. Currently, the company maintains clients including three automotive OEMs, South Korea's top three battery makers and approximately 40 battery fabless firms. Notably, five clients that collaborated from the development stage have transitioned into mass production.

Increased mass production volume directly led to capacity expansion. JRX EnerTech Solutions is currently operating its 500 megawatt-hour (MWh) electrode production line at its Eumseong plant in North Chungcheong Province at full capacity. By installing a 1.5 gigawatt-hour (GWh) second unit by the end of this year, total production capacity will expand to 2GWh by February next year. Cell assembly capacity will also expand from the current 100,000 cells to 300,000-400,000 cells.

Oh Duck-geun, CEO of JRX EnerTech Solutions, said, "This year served as the year we validated the foundry business model through client expansion, mass production conversion and technological diversification. As five development clients transitioned to mass production, we finalized the decision to expand production capacity."

The foundry's reach is also expanding into after-sales (AS) service batteries for electric vehicles (EVs). Even after an EV model is discontinued, replacement cells must be supplied during the warranty period. Because batteries cannot be stored long-term as inventory, they must be manufactured on-demand. Instead of restarting legacy production lines, major battery manufacturers can outsource this work to a foundry specialized in high-mix, low-volume production.

JRX EnerTech Solutions is currently negotiating AS battery production with South Korea's top three battery makers. One partner is reviewing approximately 100 projects for AS production conversion. By supporting production during the development stage of next-generation batteries and taking over AS volume after product discontinuation, the company is broadening its touchpoints with major battery makers.

JRX EnerTech Solutions plans to expand its domestic production capacity to at least 6GWh. As discussions progress regarding approximately 4GWh of volume with a U.S. ESS client, plans for additional investments near the Eumseong facility are accelerating. The company is also preparing for an initial public offering (IPO) to secure funds required for capacity expansion.

Oh added, "Based on our planned production capacity, we project achievable revenues of around 200 billion won, and we expect over 100 billion won to be feasible next year. We are preparing to submit our listing application in March 2027, targeting an official IPO in September of the same year."

Q&A

Q: Hello, this is Lee Soo-hwan from THE ELEC. Today, we are joined by CEO Oh Duck-geun of JRX EnerTech Solutions to discuss the latest updates on the battery foundry market and industry conditions. Hello, CEO Oh.

A: Hello, I am Oh Duck-geun, CEO of JRX EnerTech Solutions.

Q: We've been having regular check-ins throughout the year. Over the past few years, while the overall battery market has been expanding, domestic companies haven't captured that growth, leading to various industry issues. People talk about slowing EV sales, but looking at Tesla Model Y sales in Korea, that doesn't seem entirely true. Ultimately, the market is growing, but domestic firms failed to capture it. However, your battery foundry business wasn't targeting that main EV segment from the beginning, right?

A: When we launched the foundry business, our initial target focused on non-EV segments — specifically ESS, defense, drones and robotics, which are receiving tremendous attention right now. Ultimately, we are also looking at the EV market, but rather than mainstream production, our focus is on the AS market. When an EV is sold, the battery carries a 10-year warranty. Auto manufacturers and battery makers face a structural issue where they must continue producing cells throughout that 10-year window. Demand for someone to handle that operational burden is surging. The opportunity we see in the foundry market isn't the core mainstream market dominated by the top three battery makers, but the AS market — and those markets are opening faster than expected. We have already initiated discussions with domestic battery majors and auto OEMs regarding AS supply. The defining characteristic of the AS market is precisely high-mix, low-volume production, which aligns with our core focus.

Q: Exactly. AS volume doesn't ship at a constant pace, nor can inventory sit indefinitely.

A: Because battery capacity and quality degrade over time, you cannot produce and stockpile inventory; it must be manufactured on-demand. Major corporations excel at low-mix, high-volume manufacturing, whereas high-mix, low-volume production must be handled by a dedicated foundry. While we don't treat the main EV market as a primary focus today, we see long-term potential, and the target markets we identified are already opening up. The foundry business is growing much faster than we originally anticipated.

Q: Could you highlight a few of your representative client groups?

A: While I cannot mention specific client names directly, I can describe our primary client segments. First, we are engaged in foundry operations with automotive OEMs. Auto manufacturers are currently developing proprietary cell designs internally, and we provide foundry execution for those R&D efforts.

Q: Do these include domestic automakers?

A: Yes, both domestic and overseas automakers. Orders are steadily increasing, so we view this very positively. Our second client segment is South Korea's top three battery manufacturers. People often ask why major domestic battery makers — who possess massive capacity — would outsource foundry work to JRX EnerTech. We view our relationship with the top three through a two-stage lens: front-end and back-end. The front-end involves supporting their R&D. Previously, when the focus was strictly on high-nickel chemistry, they only developed high-nickel. Now, they must simultaneously develop lithium iron phosphate (LFP), sodium-ion and all-solid-state batteries. It is extremely difficult to process all these next-generation chemistries on existing R&D pilot lines, so they leverage us to accelerate development. That is the front-end. The back-end is the AS market I mentioned earlier. The relationship between major battery makers and a foundry isn't competitive — it's mutually complementary.

Q: For example, if LG Energy Solution has a line sitting idle to reduce fixed costs, restarting that factory just to produce a single month's worth of required cells incurs massive operational and manpower costs. Running it for one month and pausing again results in a net loss. Outsourcing that volume to JRX makes far more financial sense — and that calculation is driving the AS market.

A: Exactly. That market always existed, but it remained inactive because entering the automotive supply chain requires a foundry partner that is thoroughly vetted for reliability, scale, quality standards and financial stability. Historically, such players didn't exist, so the top three didn't look outside. Now that a competitive foundry player like JRX has emerged, they are actively pursuing it.

Q: As electric vehicles become mainstream, AS demand is compounding, and older EV models are accumulating. Outsourcing those runs is far more efficient than internal manufacturing.

A: Correct. Those legacy production lines are less efficient, run sporadically and consume valuable floor space. Battery majors want to decommission legacy lines and install new high-speed equipment. That operational need aligns perfectly with our capabilities, and formal discussions are now underway.

Q: Aside from automotive, what other major markets are you expanding into?

A: Our third core client segment consists of battery fabless companies.

Q: By fabless, do you mean emerging battery startups?

A: Emerging battery companies that focus heavily on core R&D and market development. What they lack is mass production capabilities. They often lack commercialization and mass manufacturing expertise, so our core foundry model centers on strategic partnerships with them. This client base is expanding rapidly.

Q: How many active clients do you currently have?

A: We have three automotive OEM clients, all three domestic battery majors and approximately 40 core battery fabless partners.

Q: That already totals nearly 50 clients. It sounds like your Eumseong plant is already operating at full capacity.

A: We are operating at 100% capacity. Our 500MWh cathode and anode lines are fully set up and running. Client demand is strong, and growth will accelerate next year. That is why we are currently preparing our second line.

Q: Will Line 2 be installed within the existing plant? What does the process layout look like? Are you referring to post-mixing processes?

A: The process layout is identical. We currently operate one complete set covering mixing, coating, pressing and slitting. We are bringing in an identical second set, but this line is specifically optimized for mass production. Line 1 was semi-automated for pilot-scale flexibility, whereas Line 2 is an automated mass-production line arriving at the factory by late this year. It will be fully operational by February next year and contribute directly to 2027 revenue.

Q: Combined, Line 1 and Line 2 will total 2GWh of capacity?

A: Correct. Our current capacity is 500MWh, and the new line adds 1.5GWh, bringing JRX's total production capacity to 2GWh by February next year.

Q: Is the 1.5GWh expansion allocated for EV mass-production clients?

A: It is not for EVs. This year served as the validation year for our foundry business model. First, our client base expanded past 50 companies. Second, clients that previously requested pure R&D are now transitioning into commercial mass production. That transition created the need for Line 2. Third, our technical portfolio diversified significantly. Specifically, five client projects successfully transitioned from R&D into full mass production, which justified adding the 1.5GWh capacity.

Q: So fabless clients that secured end-customers and required large cell volumes are now moving into mass production.

A: Exactly. Our core purpose is helping clients commercialize, mass-produce and sell the products they developed. We now have five clear success stories. Looking at their end-customers, these strategic clients manufacture specialized cells for ESS, logistics robots, drones and special-purpose IT/wearable devices. As they enter mass production, JRX is scaling its capacity to 2GWh to support them.

Q: Are there other client categories?

A: We also partner with battery material developers. Companies developing novel materials find it difficult to convince cell manufacturers using material samples alone. Consequently, many adopt a strategy of building complete cells first to prove performance in the market. Waiting for domestic battery majors or Chinese firms to adopt a new material takes years. To bypass that delay, material developers use JRX to manufacture complete cells containing their materials, selling them into specialized markets for rapid validation. Because they lack manufacturing infrastructure, they collaborate heavily with JRX.

Q: How are your revenue metrics trending?

A: We founded the company in December 2022 and officially brought the factory online in February 2024. In 2024, we prioritized operational stabilization over aggressive sales, recording 4.9 billion won in revenue.

Q: In 2024.

A: In 2025 — our first full year of commercial operation — revenue reached approximately 20.1 billion won.

Q: Passing 20 billion won means a fourfold increase year-over-year.

A: Yes, roughly fourfold growth. This year represents the full validation of the battery foundry model. Response from clients has been exceptionally strong, and as of August, our full-year 2026 revenue is virtually locked in at approximately 32 billion won.

Q: What about profitability?

A: Achieving early profitability in the battery industry is notoriously challenging. We posted net losses in 2024 and 2025, but we are executing a complete turnaround to profitability this year. We expect to post solid positive numbers.

Q: What operating margin are you projecting?

A: Ongoing capital investments generate substantial depreciation expenses, making high margins difficult in the short term. However, we are targeting an operating profit margin of approximately 10% this year, and we expect to hit that target.

Q: Looking back over the past year, JRX signed numerous corporate partnerships, including Scandinavian newcomer Morrow Batteries and Australia's 1414 Degrees. Which partnerships stand out as the most significant?

A: Collaboration is the foundation of our business model, and our partnerships fall into three main categories.

First are client partnerships. We have established formal MoUs with key front-end clients like Amprius, Nyobolt and ElectroActive, and we have moved past initial MoUs into concrete negotiations for mass production volumes.

Second are material suppliers, such as 1414 Degrees and Norwegian synthetic graphite maker Vianode.

Third is a novel model: leveraging idle global production capacity. Morrow Batteries was our first partnership in this category. As European battery firms faced operational hurdles after building gigafactories, idle capacity emerged. We initiated discussions to utilize those facilities on behalf of JRX's client base. At the end of September, a major French manufacturing firm will visit our facilities to sign an MoU focused on JRX utilizing their idle production lines.

Q: So based on your track record of rapidly stabilizing your plant, these global firms are asking JRX to help stabilize and run their gigafactories?

A: It's a slightly different strategic approach. They want JRX to route our client orders into their facility to utilize their idle capacity. From our perspective, while we continue investing domestically, our footprint is currently limited to South Korea. Rather than spending capital to build new plants in Europe, we use these partnerships as our European operational hubs.

Q: It functions almost like a "foundry for foundries."

A: Exactly — a foundry for foundries. Directly committing capital expenditure (CAPEX) overseas requires immense capital, time and complex European permitting processes. Partnering allows us to bypass those hurdles. Our global strategy centers on our Eumseong facility, which will expand to 2GWh, while we actively discuss a roughly 4GWh project with a U.S. ESS client.

Q: Regarding the 4GWh project, plans for a second domestic site near Eumseong are taking shape.

A: Timeline planning is accelerating, and we are evaluating site options simultaneously. We plan to hold at least 6GWh of internal capacity in South Korea. In Europe, however, we won't build from scratch. While shipping cells from Korea is an option, leveraging local idle capacity through strategic partners allows us to enter the European market far faster and more capital-efficiently.

Q: Since the battery foundry concept emerged, making prototype or R&D cells has always been possible. But when major players like Morrow or this French firm approach you for large-scale production, have domestic battery makers shown similar interest in handing over legacy fabs to JRX?

A: Domestic large enterprises operate under complex decision-making frameworks. For us to take over and operate an existing domestic site, managing onsite personnel, labor unions and corporate culture introduces significant operational friction, which slows down corporate decision-making. We presented aggressive proposals, but internal approvals stall. Overseas firms like Morrow or the French firm actively seek us out, whereas in Korea, we are the ones initiating proposals. While domestic executives acknowledge it as a great concept, execution remains complex.

Separately, taking over gigawatt-scale electrode lines incurs high operational costs if the site isn't fully decoupled from adjacent facilities. Domestic sites are tightly integrated. So while the strategic logic makes total sense —

Q: Even battery majors acknowledge the business logic.

A: They like the concept very much and actually initiated early discussions. We submitted formal proposals, but final approvals hit corporate administrative roadblocks. While discussions are currently paused, we believe domestic partnerships will eventually materialize.

Q: JRX's core business model is now thoroughly validated. With global cell makers seeking mass-production partnerships, what is your outlook on the broader battery market next year and beyond?

A: In the short term, our target markets are growing rapidly. ESS, robotics and drones are expanding fast. Although these represent high-mix, low-volume segments that seem small to major battery manufacturers, this market is being actively built by foundries like JRX and fabless developers. We project sustained, strong growth here.

Regarding the mainstream EV market, recovery will take time. While global market demand continues to grow, Korean battery makers face intense competition from Chinese suppliers. Meanwhile, market adoption in the U.S. has slowed down due to policy uncertainties surrounding the Trump administration. Industry consensus points toward a broader EV recovery around 2028-2029.

That is why our short-term strategy focuses heavily on non-EV sectors. These markets exhibit intense demand and short sales cycles. Unlike automotive projects that require two to three years of development and validation before generating revenue, non-EV projects translate into immediate orders. For the mainstream EV market, we are positioning ourselves around the AS replacement segment, which offers virtually uncapped growth potential. For instance, one major Korean battery maker we are negotiating with has roughly 100 legacy projects slated for AS production conversion.

Q: Because early-generation EVs are accumulating on roads.

A: Exactly. LG Energy Solution first supplied automotive batteries for the Chevy Volt back in 2008 — nearly 20 years ago. As vehicles age and models are discontinued, maintaining replacement cell supply becomes a major operational burden for automakers and battery firms. That is why our foundry outlook remains exceptionally bright.

Q: To wrap up, what are your key operational targets for next year, and what is your timeline for the upcoming IPO?

A: This year marked the successful validation of our foundry model. Next year will focus on scaling up that model — expanding market share and revenue.

Our 2026 revenue target is roughly 32 billion won, where revenue was strictly capped by physical capacity. Now, electrode capacity is expanding from 0.5GWh to 2GWh. We are also upgrading our cell assembly capacity from 100,000 cells to 300,000-400,000 cells by February next year. As production capacity quadruples, revenue will naturally scale.

Q: Mathematically, scaling capacity from 0.5GWh to 2GWh represents a fourfold potential increase.

A: At full utilization, that capacity translates to roughly 200 billion won in potential revenue. For next year, we are targeting over 100 billion won in revenue. This isn't an internal estimate — it is backed by major purchase orders (POs) scheduled for delivery by late this year from clients transitioning to mass production. Based on those POs, 100 billion won is fully achievable next year.

Q: What is your timeline for the IPO?

A: The IPO is a key milestone in our long-term growth strategy, primarily designed to raise public capital for major expansion opportunities. Beyond our existing Eumseong expansion, we are evaluating capital requirements for a 4GWh project and a 1-million-cell assembly line dedicated to drone battery production.

Starting next week, we are hosting a series of roadshows with Shinhan Securities for existing shareholders to disclose our IPO roadmap. Our target is to submit our formal IPO application in March 2027, with a target listing date in September 2027.

We selected lead underwriters back in November 2025 and have spent the past year establishing internal control systems, financial and accounting compliance, management infrastructure and corporate governance structures required for a public listing. While some internally questioned listing during a broader battery market downturn, our strategy is different: rather than relying on market hype, we intend to prove that our unique foundry model delivers stellar financial results even during industry downturns. We remain fully committed to submitting our application in March 2027 and listing in September 2027.

Inoplaztech plans to expand its annual production capacity for carbon nanotube (CNT) conductive additives to 100 tons. Conventional CNT additives in liquid dispersion form are difficult to use in dry electrode manufacturing, which does not use solvents. Inoplaztech aims to target the dry electrode market by using its proprietary plasma technology to disperse CNTs in powder form.

Inoplaztech CEO Lee Deok-yeon unveiled the company’s CNT conductive additive mass-production plan at the K-Battery Show 2026 Materials, Parts and Equipment Conference held Sept. 9 at KINTEX in Ilsan, Gyeonggi Province. Starting next year, the company plans to expand production facilities over three years to secure annual capacity of 100 tons. It plans to finance the investment through fundraising and programs including Scale-up TIPS, which supports the growth of small and medium-sized ventures.

CNTs are carbon materials used as conductive additives to improve electrical conductivity inside batteries. They can provide high conductivity in small amounts but tend to agglomerate, making them difficult to use as-is. A dispersion process is needed to separate CNT agglomerates and distribute them evenly throughout battery materials.

CNT conductive additives are currently produced mainly through a wet process in which CNTs are dispersed in a solvent using mechanical force. Dispersants are also used to prevent reagglomeration. The process can damage CNTs or leave residual dispersants that reduce conductivity. CNTs can also agglomerate again after the solvent is removed.

Inoplaztech disperses CNTs using plasma without solvents or dispersants. The process separates CNT agglomerates while treating their surfaces to suppress reagglomeration. Because the CNTs can be used as a powder rather than a liquid dispersion, they can be applied to dry electrode manufacturing.

Inoplaztech has been validating the applicability of its dry-dispersed CNTs with battery companies and others. It will now shift its focus from technology validation to securing mass-production capacity. The company expects annual sales of 20 billion to 30 billion won from its CNT conductive additive business once it reaches annual production capacity of 100 tons.

The company is also commercializing technology to improve CNT conductivity. The process uses plasma to attach nitrogen to the surface of multi-walled carbon nanotubes (MWCNTs), increasing their conductivity. Inoplaztech plans to begin selling nitrogen-functionalized MWCNTs as reagents by the end of this year. Such products remain relatively uncommon, with only three to four suppliers worldwide.

The goal is to improve the performance of relatively inexpensive MWCNTs so they can partially replace more expensive single-walled carbon nanotubes (SWCNTs). “Our long-term goal is to provide SWCNT-level performance at MWCNT prices,” Lee said.

Inoplaztech is also applying its plasma technology to other nanopowders. Nanopowder coating is a potential next business. As battery materials such as lithium iron phosphate (LFP) become finer, technologies capable of uniformly coating even small particles are increasingly needed. The company is considering plasma-based surface coating of fine powders as its next business area.

The dry plasma technology can also be applied outside batteries. Potential applications include polyethylene (PE) for battery separators, alumina fillers used in semiconductor thermal management materials and CNT composites for electric-vehicle tires. The underlying principle is the same: modifying surface properties so different materials can be mixed more effectively.

Inoplaztech is a nanomaterials company founded in 2018 as a startup by researchers from Ulsan National Institute of Science and Technology (UNIST). It has developed plasma technology that disperses aggregation-prone nanomaterials such as CNTs and graphene without solvents.

Battery diagnostics company MONA is developing an artificial intelligence foundation model using data from 10 million battery cells. The goal is to create a universal model that can apply diagnostic capabilities learned from one type of battery to different batteries. The company also plans to expand diagnostics to electric vehicles, energy storage systems (ESS) and second-life batteries.

"We plan to secure data from 10 million battery cells and develop a universal diagnostic model that can be applied across different batteries," MONA CEO Jang Ikhwang said at the K-Battery Show 2026 Materials, Parts and Equipment Conference held Sept. 9 at KINTEX in Ilsan, Gyeonggi Province. MONA has so far collected data from about 8 million battery cells and 1,000 battery packs.

Current battery diagnostic AI models struggle to maintain accuracy when applied to batteries different from those used for training. Materials, designs and production conditions vary by battery, meaning the same abnormality can appear differently in measurement data. MONA is training on large datasets collected from various batteries to develop a universal model capable of determining quality and detecting abnormalities across different products.

MONA's ability to collect large datasets is based on battery diagnostic technology using Electrochemical Impedance Spectroscopy (EIS). EIS applies alternating-current signals to a battery and measures how impedance changes at different frequencies.

The technology can identify latent internal cell defects and quality variations that are difficult to detect through conventional voltage and visual inspections. Even when a battery has normal voltage at shipment, quality problems can emerge during transportation and storage due to differences in factors such as self-discharge.

Applying EIS to mass-production lines requires faster inspection because directly measuring multiple frequency ranges takes time. MONA developed a high-speed diagnostic technology that measures only part of the frequency range and uses generative AI to reconstruct the remaining impedance data. The company has reduced inspection time to about one second per cell, allowing it to accumulate large datasets on mass-production lines.

Fast measurement alone is not enough for accurate quality assessment. Impedance is sensitive to temperature, meaning readings from the same battery can vary depending on the measurement environment. MONA corrects variations caused by temperature and equipment conditions and establishes a normal range based on the statistical distribution of accumulated data. Batteries outside that range are automatically flagged as potential defects.

MONA has also confirmed correlations between its data and actual defects. The company identified batteries in accumulated incoming-inspection data whose internal resistance and charge-transfer characteristics fell outside the normal distribution. Computed tomography (CT) and cross-sectional analysis subsequently found physical defects, including uneven electrode thickness. The abnormalities detected solely from impedance data matched physical defects inside the cells.

MONA is extending data collected from mass-production sites beyond the manufacturing stage. It is expanding the technology to diagnose batteries installed in EVs and determine whether used batteries recovered from vehicles can be reused. The company can collect data throughout the battery lifecycle, from incoming inspection of cells, modules and packs to EV diagnostics and second-life battery reuse.

MONA is also testing the feasibility of using second-life batteries in ESS applications. The company is conducting pilot tests of ESS systems incorporating used battery modules and packs. It is also developing diagnostic solutions for next-generation batteries, including all-solid-state batteries and batteries using silicon anodes.

Battery thermal runaway can generate flames exceeding 1,200°C as well as pressurized debris. LG Chem has developed an engineering plastic called Super Flame Barrier (SFB) that withstands such extreme conditions to prevent battery fires from escalating into larger accidents.

Hyun Sung-jae, a team leader at LG Chem, presented SFB and other materials designed to prevent battery thermal runaway propagation, along with the company’s development results, at the K-Battery Show 2026 Materials, Parts and Equipment Conference held Sept. 9 at KINTEX in Ilsan, Gyeonggi Province.

Battery thermal runaway is particularly dangerous because it may not remain confined to a single cell. When a cell is damaged or develops an internal short circuit, its temperature and pressure rise rapidly. If the resulting heat raises the temperature of adjacent cells, it can trigger further thermal runaway in a chain reaction. A problem originating in a single cell can ultimately escalate into a fire or explosion involving the entire battery pack.

Preventing cascading thermal runaway requires blocking the transfer of flames and heat between cells. Inorganic materials such as ceramics, mica and aerogel are commonly used for this purpose. LG Chem instead turned to plastics. Engineering plastics can be injection-molded, making them easier to use in complex-shaped battery components. LG Chem added resistance to high-temperature flames while retaining that processability.

LG Chem developed a material called Flame Barrier for this purpose. When exposed to flames, the plastic forms multiple carbonized layers on its surface to prevent heat and flames from penetrating. In LG Chem tests that exposed 1-millimeter-thick samples to a 1,000°C flame, conventional flame-retardant plastics developed holes or melted within eight to 109 seconds. Flame Barrier maintained its shape for more than 600 seconds. The material has been used in electric-vehicle batteries from a European automaker and a global battery manufacturer and is also being supplied for energy storage systems (ESS).

LG Chem subsequently developed SFB with further improved heat resistance. SFB has also been spec-in approved by a global automaker and has entered the commercialization stage. The company unveiled SFB at InterBattery 2026 in March. The technology won an InterBattery Award in the Reliability, Safety and Sustainability category.

The key to SFB is a protective barrier that remains intact at temperatures exceeding 1,200°C. When exposed to flames, special flame retardants and inorganic materials form an aluminum phosphate-based ceramic layer. While the existing Flame Barrier slows flame penetration through carbonized layers, SFB uses a rigid ceramic layer to withstand both high-temperature flames and pressure. The barrier can also remain intact against debris generated during thermal runaway.

LG Chem also verified SFB’s performance in tests simulating actual thermal runaway conditions. In repeated tests involving high-temperature flames and high-pressure particles, SFB withstood temperatures of 1,050°C to 1,200°C more than 12 times. It showed no holes or melting after the tests.

In tests using actual cylindrical battery cells, flames did not spread to surrounding cells even when the center cell was made to explode. A tray using SFB also showed no deformation. LG Chem has expanded the SFB product lineup for use in module covers and housings, battery cell frames and busbar components.

“It is important to delay the propagation of thermal runaway to surrounding cells when a battery fire occurs,” Hyun said. “We will continue developing engineering plastic materials that can be applied to battery components.”

Gaon Cable, a subsidiary of LS Cable & System, has entered Canada's public power grid market for the first time.

Gaon Cable said Sept. 9 it recently supplied medium-voltage (MV) cables to a major public utility in western Canada. It marks the company's first export of power cables to Canada.

Gaon Cable plans to use its entry into Canada as a springboard to expand orders in the North American public power grid market. Canada is expanding and modernizing its transmission and distribution networks to meet rising electricity demand driven by the growth of AI data centers and advanced manufacturing.

The company also expects its North American sales to increase. Gaon Cable is expanding local supply through its headquarters and U.S. manufacturing subsidiary LSCUS in North Carolina.

Gaon Cable expects North American sales to rise more than 50% to about $470 million this year from about $300 million last year.

"We will continue to strengthen our presence in the North American power infrastructure market spanning the U.S. and Canada," Gaon Cable CEO Chung Hyun said.

Korea Aerospace Industries (KAI) is showcasing the KF-21 and Manned-Unmanned Teaming (MUM-T) systems in Poland as it seeks to expand its presence in the European market.

KAI said Sept. 9 it is participating in the International Defence Industry Exhibition (MSPO 2026), being held in Kielce, Poland, from Sept. 8 to 11.

KAI displayed its Next-generation Air Combat System (NACS), linking the KF-21, unmanned combat aerial vehicles (UCAVs), multi-purpose unmanned aerial vehicles (AAPs) and low-Earth-orbit communications satellites. It is also showcasing a MUM-T system connecting the FA-50 with an AAP.

In the rotary-wing segment, KAI unveiled systems linking Air-Launched Effects (ALEs) with the Marine Attack Helicopter (MAH) and Light Armed Helicopter (LAH). KAI plans to offer the MAH, whose system development was completed in August 2026, to European countries seeking to replace their helicopter fleets.

KAI is seeking follow-on business opportunities for the FA-50 in Poland. It also plans to pursue new projects in European countries with fighter replacement demand, including Romania, Bulgaria and Slovenia.

Hanwha Ocean has been selected as the preferred bidder for the Royal Thai Navy's next-generation frigate project worth about 680 billion won.

Hanwha Ocean said Sept. 9 that it was named the preferred bidder for the Royal Thai Navy's next-generation frigate acquisition program and will begin detailed negotiations toward a final contract.

The Royal Thai Navy has set a budget of 16.73 billion baht, or about 683.3 billion won, for the construction of one frigate and integrated logistics support.

Hanwha Ocean will negotiate technical specifications, project scope and contract terms with the Royal Thai Navy. The final project value and contract terms will be determined based on the outcome of the negotiations.

Defense companies from Spain, Singapore and Türkiye competed for the project alongside Hanwha Ocean. The South Korean shipbuilder previously delivered the frigate "Bhumibol Adulyadej" to the Royal Thai Navy in 2018.

Hanwha Ocean plans to expand follow-on naval defense cooperation with Thailand and pursue additional opportunities in Southeast Asia's surface combatant market.

HD Hyundai is expanding cooperation with the Philippine government on naval modernization and the development of the country’s shipbuilding industry.

HD Hyundai said Sept. 8 that Chairman Chung Ki-sun met Philippine Defense Secretary Gilberto Teodoro Jr. in Seoul on Sept. 7 to discuss cooperation in shipbuilding and defense.

HD Hyundai has expanded its naval vessel business in the Philippines since winning a contract for the Philippine Navy’s first frigates in 2016. The company has secured orders for 12 naval vessels in the country and delivered six of them.

The two sides will continue cooperation on naval modernization, including follow-on frigate programs. They will also expand cooperation in the local shipbuilding industry.

HD Hyundai began operations at HD Hyundai Philippines in Subic last year. It recently launched the first vessel built locally and plans to deliver it to the shipowner next year.

“Based on the mutual trust we have built over the past 10 years, we will explore opportunities for long-term industrial cooperation in a wide range of areas beyond commercial and naval shipbuilding,” Chung said.

Battery recycling startup DRT has commercialized its proprietary multi-stage pyrolysis technology.

The company built its first mass-production facility at the Saemangeum Industrial Complex in Gunsan, North Jeolla Province, applying its technology to actual waste battery processing. Compared with conventional rotary kiln systems, the technology reduces both energy consumption and carbon dioxide emissions by about 50%.

DRT held an event on Sept. 8 at the Saemangeum Industrial Complex to mark the completion of its battery recycling mass-production facility. The first production line can process 12,000 tons of waste batteries annually, equivalent to batteries used in about 24,000 electric vehicles.

The first production line unveiled at the event integrates equipment for dismantling EV battery packs into modules and cells, crushing and heat treatment, and separation of black mass (BM), a powder containing valuable metals, within a single building. South Korean automation equipment maker Toptec supplied the automated equipment for separating battery packs, modules and cells. DRT designed and manufactured the core equipment for subsequent processes, including crushing and heat treatment.

The company plans to add production lines at its Gunsan plant after reviewing operations of the first line and customer demand. It is considering building second and third lines of the same capacity on the remaining site. If all three lines are operational, the Gunsan plant is expected to generate more than 20 billion won in annual revenue.

“This is a mass-production facility incorporating our independently developed high-efficiency resource recovery technology,” DRT CEO Jung Chul-won said. “We will use the first line as a global standard model for mass production and expand our business with customers in South Korea and overseas.”

A key feature of DRT’s system is its ability to process both waste batteries and low-grade black mass on a single line. Waste batteries undergo crushing, heat treatment and separation to recover powder containing valuable metals, while low-grade black mass containing residual organic materials and impurities is heat-treated again to improve its quality.

At the core is DRT’s proprietary multi-stage pyrolysis technology. After waste batteries are crushed, nitrogen is used to lower the oxygen concentration before the material is heat-treated at about 500 degrees Celsius. Organic materials such as electrolytes, separators and binders are removed in a sealed, multi-stage reactor. The process reduces fire risk while increasing black mass purity to about 98%.

DRT will use the first production line to process waste batteries and black mass supplied by customers on a contract-processing basis. Annual revenue is expected at 7 billion to 7.5 billion won. Unlike conventional recyclers that directly purchase raw materials and sell the resulting black mass, DRT processes materials secured by its customers and receives a processing fee.

DRT chose this business model because it allows the company to turn existing recyclers into customers rather than compete with them for waste battery feedstock. By processing customer materials in Gunsan, DRT plans to demonstrate the performance and economics of its multi-stage pyrolysis equipment and expand into an equipment business that installs the technology on customers’ production lines. Each equipment sale could generate tens of billions of won in revenue.

DRT is in discussions with companies in the US and Japan to supply its multi-stage pyrolysis equipment. It is also discussing businesses using waste battery recycling equipment with battery materials companies in South Korea and overseas.

DRT is expanding its pyrolysis technology developed for waste batteries into areas including biomass and waste plastics.

In biomass, the company is developing technology to pyrolyze woody and herbaceous feedstocks to produce bio-oil for use as a feedstock for sustainable aviation fuel (SAF).

DRT is also advancing catalytic pyrolysis technology for waste plastics. The technology converts waste plastics through pyrolysis into feedstocks for high-value chemical products. DRT is participating in government-funded research projects with universities, refiners and chemical companies to develop the technologies.

DRT has also secured external funding for technology development and construction of mass-production facilities. It has raised 5 billion won since its establishment. Following the start of operations at its first production line, the company plans to secure additional funding to build more facilities and commercialize its pyrolysis technologies.

DN Solutions received a Prime Minister's Commendation for its development and localization of machine tools used in advanced industries including semiconductors and aerospace.

DN Solutions said Sept. 8 that Vice President Song Ji-ho received the Prime Minister's Commendation at the 2026 Technology Developers' Day ceremony held on Sept. 7.

Song has worked on machine tool development for 25 years, leading the localization of turning centers and multitasking machines. Key products include the PUMA GT3100 series of global-standard turning centers, the SMX series of multitasking machines and the DNC series of grinding machines for semiconductor materials.

The DNC series can process a range of materials, including quartz, silicon (Si), silicon carbide (SiC) and ceramics, on a single machine.

DN Solutions applied its proprietary precision grinding technology to achieve nanometer-level machining accuracy. The equipment can be used to process consumable components for semiconductor manufacturing as well as aerospace parts.

Song also led the digitalization and standardization of processes for managing customer-specific machine tool options and the development of an in-house enterprise resource planning (ERP) system. The system provides integrated management of operations ranging from sales to production and shipment histories, as well as product specifications.

Park Woo-jin, head of Global Product Development at LS ELECTRIC, received the Science and Technology Medal for his contributions to localizing core distribution equipment technologies and developing direct-current (DC) power equipment.

LS ELECTRIC said Sept. 8 that Park received the award at the Technology Developers’ Day ceremony held in Seoul on Sept. 7.

Park developed core technologies for low- and high-voltage distribution equipment, including air circuit breakers (ACBs), vacuum circuit breakers (VCBs) and ring main units (RMUs). He also contributed to securing proprietary design technologies for distribution equipment that had previously relied heavily on imports.

In DC power equipment, Park led the development of South Korea’s first 1,000-volt DC ACB, followed by the world’s first 1,500V-class DC ACB and disconnect switch unit (DSU). The products can be used in high-power infrastructure such as artificial intelligence (AI) data centers.

LS ELECTRIC’s ACB and VCB product lines, including DC products, generated cumulative revenue of more than 1 trillion won from 2021 through 2025. The company supplies the products to overseas markets including the US and Europe.

Hyundai Rotem will showcase its Poland-specific K2 tank, or K2PL, equipped with mission equipment developed with Polish defense companies.

Hyundai Rotem said Sept. 8 that it will participate in the 34th International Defence Industry Exhibition (MSPO), held in Kielce, Poland, from Sept. 8 to 11. Its exhibit will feature the K2PL as well as armored vehicle-launched bridge, combat engineering and recovery variants.

The K2PL is expected to feature an active protection system (APS) to counter anti-tank guided missiles and drone threats, a drone jammer and a remote-controlled weapon system (RCWS).

Hyundai Rotem will also unveil for the first time a Mobile Camouflage System (MCS) for tanks made by Polish defense company Miranda. At the exhibition, the camouflage system will be fitted to a K2 tank currently being supplied to Poland.

The company will also unveil for the first time a Poland-specific armored vehicle-launched bridge being jointly developed with Polish defense company OBRUM. The vehicle will be equipped with bridge mission equipment developed for Poland's battlefield environment.

Hyundai Rotem will also display a model of its HR-Sherpa multipurpose unmanned ground vehicle fitted with an RCWS from Poland's ZMT, as well as a 30-ton wheeled armored vehicle equipped with an unmanned turret for a multilayer counter-unmanned aircraft system (C-UAS).

Hyundai Rotem is preparing for local production under its second K2 tank executive contract with Poland's Armament Agency. In April, it signed an agreement with Bumar-Łabędy, a unit of Polish state-owned defense group PGZ, to cooperate on local production and maintenance of the K2PL and armored recovery vehicles.

Duksan Electera has begun supplying battery electrolytes to the largest electric vehicle maker in North America. The company has secured seven customers in the region and expects the number to increase to nine next year.

Duksan Electera said Sept. 8 that it has been commercially supplying electrolytes to the North American EV maker since July. The customer is the largest EV manufacturer in North America.

Duksan Electera began shipments after several years of quality verification and mass-production approval procedures. Electrolytes are key battery materials that affect battery life, power output and safety.

The company has secured a total of seven electrolyte customers in North America. They include South Korean battery makers, overseas cell manufacturers, joint ventures (JVs) between automakers and battery companies, and automakers. Duksan Electera has also secured two of South Korea's three major battery makers with large-scale production bases in North America as customers. It is already supplying some customers and plans to begin shipments to the remaining customers within this year.

Duksan Electera is also undergoing quality approval procedures with additional customers. The company expects the number of customers it supplies to increase to nine in 2027 once the procedures are completed.

The company will also leverage the supply chain it has established with parent company Duksan Techopia. Duksan Techopia produces additives for battery electrolytes, while Duksan Electera supplies electrolytes. Duksan Techopia produces additives that can comply with US Foreign Entity of Concern (FEOC) restrictions. Duksan Electera has also established electrolyte production bases in South Korea and North America.

Its financial performance is growing as it expands supplies in North America. Duksan Electera began mass production in July last year and posted annual revenue of 5.9 billion won. Revenue reached 17.3 billion won in the first half of this year, about three times its full-year revenue last year.

Duksan Electera is also pursuing a listing on South Korea's Kosdaq market. Parent company Duksan Techopia disclosed on Sept. 7 an assessment of the listing's impact on shareholders and measures to protect shareholders.

The company plans to apply for preliminary listing approval from the Korea Exchange after gathering shareholder opinions and obtaining approval at a general shareholders' meeting. Proceeds from the listing will be used for investment in North American production facilities and working capital.

LIG Defense & Aerospace (LIG D&A) discussed cooperation in air defense systems with the Czech government.

LIG D&A said Sept. 8 that Czech Deputy Prime Minister and Minister of Defence Jaromír Zůna visited its Pangyo House in Seongnam, Gyeonggi Province, on Sept. 7. Zůna was in South Korea to attend the Seoul Defense Dialogue (SDD).

LIG D&A introduced Zůna to air defense solutions including the L-SAM long-range surface-to-air missile system and counter-drone systems. The company also presented its system integration technologies for building a multilayer air defense network capable of responding to threats from low to high altitudes.

The Czech Republic is pursuing the modernization of its air defense systems as part of efforts to strengthen its defense capabilities. The two sides discussed technological cooperation related to the modernization program as well as potential future cooperation in the defense industry.

LIG D&A plans to expand its air defense business in European markets, including the Czech Republic, while pursuing cooperation with local companies in areas such as technology collaboration and joint development.