SDIA steps up to be World Supply Hub of Secondary Batteries

- Chunbo BLS is building an electrolyte plant for KRW 500 billion($440 M) and tries to lead domestic & world markets

□ Saemangeum Development and Investment Agency (Administrator: Yang
Choong-mo) signed an investment agreement with Chunbo BLS Co., Ltd. to
construct an electrolyte plant for secondary battery, a key component of
electric vehicles, at Saemangeum National Industrial Complex, on July 7.

ㅇAbout twenty people, including Lee Sang-yul, CEO of Chunbo BLS, Yang
Choong-mo, Administrator of Saemangeum Development and
Investment Agency(SDIA), Song Ha-Jin, Governor of Jeollabuk-doProvince, and Kang Im-joon, Mayor of Gunsan, attended the MOU signing ceremony.

□ Chunbo BLS will construct a next-generation electrolyte*(LiFSI) plant
to produce medium and large lithium-ion batteries, investing KRW 512.5
billion($440 mil) on 171,000㎡ at Saemangeum National Industrial
Complex.

*Material added to the electrolyte, one of the four major
substances of secondary battery, which serves as a medium for
transporting lithium ions when charging and discharging, and
improves the performance and efficiency of secondary battery

ㅇThe investment will go on two phases and a tenancy contract will be
signed in November. From 2022 to 2023 KRW 218.5 billion($188 M)
will be invested, hiring 200 employees, and from 2024 to 2026 KRW
294 billion($253.5 M), hiring 270 employees.

□The Next-generation electrolyte (LiFSI) which will be produced at
Saemangeum plant is indispensable material for secondary batteries, and
is considered to have excellent effects on high power (10%↑), longevity
(25%↑), and anti-corrosion compared to conventional LiPF6.

ㅇChunbo BLS will innovate their business with quality and cost
competitiveness by applying their newly developed technology, which
will promote to supply upgraded electric vehicles that can travel far
longer distances.

ㅇChunbo Co., Ltd., the parent company of Chunbo BLS Co., Ltd., occupies
more than 90% of the global market of Process Material on
semiconductors and displays, depending on its far advanced technology
overwhelming other global competitors.

- As succeeding in mass-producing the world’s first next-generation
electrolyte (LiFSI) in 2013, Chunbo dominates and supplies secondary
battery electrolytes in domestic and foreign markets based on world-class quality and price competitiveness as a global supplier.

□With full support of the national government and the regional
governments, Chunbo decided to invest in Saemangeum considering of
its location benefits such as establishment of eco-friendly future
automotive cluster, growth possibility and ease of export through
Saemangeum New Port.

ㅇSDIA expects this investment to revitalize the Saemangeum by
co-prosperity cooperation with local companies, activating the local
economy through hiring local talent, and promoting the use of Gunsan
Port and Saemangeum New Port.

□We expect that Chunbo BLS Co., Ltd. will play a major role in upgrading
the industrial condition of Saemangeum and further becoming a hub of
Korea‘s future industries, said Yang Choong-mo, Administrator of SDIA.

□CEO Lee Sang-yul of Chunbo BLS Co., Ltd. said, “When the plant is
completed, we will grow it into the world‘s valuable company and will
reach the goal of annual sales, KRW 1 trillion($856 B). We will contribute
to the local economy by collaborating with competent local companies
and by employing local laborers.