Chunbo BLS, a subsidiary of chemical firm Chunbo, will spend 512.5 billion won to build a lithium bis(fluorosulfonyl)imide factory.
The factory will take up a space of 171,000 meter-square and be built at government-backed Saemangeum Development and Investment Agency’s industrial zone.
Chunbo BLS will spend 218.5 billion won up to 2023 and another 294 billion won after that up to 2026.
Lithium bis(fluorosulfonyl)imide is being touted as the next-generation electrolyte material used in batteries.
Chubo BLS claimed it increased output by 10% and life span by 25% compared to lithium hexafluorophosphate. Corrosion resistance also increased, the company said.
Parent company Chunbo succeeded in producing lithium bis(fluorosulfonyl)imide in 2013. The firm was founded in 1997.