LB Semicon has acquired battery recycling company GSM.
The chip back-end company said it acquired all the company shares for 20 billion won.
LB Semicon acquired a 60% stake for 12 billion won and LB a 40% stake for 8 billion won.
The new subsidiary will collect scraps and used batteries made during battery production and turn them into black powder
It has an annual capacity of 5,000 metric tonnes, LB Semicon said.